Swiss pharmaceutivals group Novartis has announced a $3.9bn deal to buy Advanced Accelerator Applications, a French company specialising in nuclear medicines used to treat tumours.
Novartis said on Monday the deal would help strengthen its oncology businesses. AAA makes radio pharmaceutical products which contain radioisotopes and are used clinically for both diagnosis and therapy of tumours.
The transaction would strengthen its activities in the field with “both near-term product launches as well as a new technology platform with potential applications across a number of oncology early development programs,” Novartis said.
AAA had sales of €109m in 2016.
Novartis is offering $41 in cash per AAA ordinary share and $82 per American Depositary Share, valuing AAA at $3.9bn.
Source: Financial Times
