Novartis to Pay Up to $1.6 Billion to Ionis, Unit for Rights to Two Cardiovascular Drugs
January 06 2017 - 6:17AM
Dow Jones News
By Denise Roland
Novartis AG (NVS) has agreed to pay up to $1.6 billion to Ionis
Pharmaceuticals Inc. (IONS) and its unit Akcea Therapeutics for the
rights to two cardiovascular drugs.
The deal involves an upfront payment to Iona and Akcea of $75
million plus a $100 million equity investment in Iona. Novartis has
also agreed to invest a further $50 million in either Ionis or
Akcea within 18 months, as well as payments worth up to $1.4
billion should the drugs prove successful.
Both drugs aim to lower the level of cholesterol-carrying
proteins in the blood and reduce the risk of certain cardiovascular
diseases developing.
Write to Denise Roland at denise.roland@wsj.com
(END) Dow Jones Newswires
January 06, 2017 06:02 ET (11:02 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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