Novartis to buy U.S. biotech in latest deal targeting firms in $1 billion to $3 billion range

Dow Jones

Sep 09

MW Novartis to buy U.S. biotech in latest deal targeting firms in $1 billion to $3 billion range

By Steve Goldstein

Novartis said it was buying a U.S.-listed biotech.

Novartis on Tuesday said it was buying a U.S. biotech working on a cardiovascular drug, continuing what's been a flurry of acquisitions at a similar price point.

Novartis said it was purchasing Tourmaline Bio for $48 per share, which had closed Monday at $30.18, valuing the New York company at $1.4 billion.

Tourmaline shares (TRML) rocketed 56% to $47.10. Tourmaline has a drug in Phase 2 development to treat atherosclerotic cardiovascular disease, which Novartis calls a "critical unmet need."

Novartis shares (CH:NOVN) $(NVS)$ slipped in Zurich trade.

According to FactSet, Novartis has bought several companies in the $1 billion to $3 billion range, including Regulus Therapeutics, Anthos Therapeutics, Kate Therapeutics, Mariana Oncology, MorphoSys, DTx Pharma and Chinook Therapeutics.

Last month, the Financial Times reported Novartis was considering bidding for Avidity $(RNA)$, a biotech developing treatments for rare muscle disorders.

-Steve Goldstein

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

September 09, 2025 05:39 ET (09:39 GMT)

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Tourmaline has a drug in Phase 2 development to treat atherosclerotic cardiovascular disease, which Novartis calls a \"critical unmet need.\" \n</p>\n<p>\n     Novartis shares (CH:NOVN) <a href=\"https://laohu8.com/S/NVS\">$(NVS)$</a> slipped in Zurich trade. \n</p>\n<p>\n     According to FactSet, Novartis has bought several companies in the $1 billion to $3 billion range, including Regulus <a href=\"https://laohu8.com/S/LENZ\">Therapeutics</a>, Anthos Therapeutics, Kate Therapeutics, Mariana Oncology, MorphoSys, DTx Pharma and Chinook Therapeutics. \n</p>\n<p>\n     Last month, the Financial Times reported Novartis was considering bidding for Avidity <a href=\"https://laohu8.com/S/RNA\">$(RNA)$</a>, a biotech developing treatments for rare muscle disorders. \n</p>\n<p>\n     -Steve Goldstein \n</p>\n<p>\n     This content was created by MarketWatch, which is operated by Dow Jones &amp; Co. 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Tourmaline has a drug in Phase 2 development to treat atherosclerotic cardiovascular disease, which Novartis calls a \"critical unmet need.\" \n</p>\n<p>\n     Novartis shares (CH:NOVN) <a href=\"https://laohu8.com/S/NVS\">$(NVS)$</a> slipped in Zurich trade. \n</p>\n<p>\n     According to FactSet, Novartis has bought several companies in the $1 billion to $3 billion range, including Regulus <a href=\"https://laohu8.com/S/LENZ\">Therapeutics</a>, Anthos Therapeutics, Kate Therapeutics, Mariana Oncology, MorphoSys, DTx Pharma and Chinook Therapeutics. \n</p>\n<p>\n     Last month, the Financial Times reported Novartis was considering bidding for Avidity <a href=\"https://laohu8.com/S/RNA\">$(RNA)$</a>, a biotech developing treatments for rare muscle disorders. \n</p>\n<p>\n     -Steve Goldstein \n</p>\n<p>\n     This content was created by MarketWatch, which is operated by Dow Jones &amp; Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  September 09, 2025 05:39 ET (09:39 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0320765489.SGD","symbol_name":"FTIF - Franklin Mutual US Value A Acc SGD","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2566933226","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2566933226","pubTimestamp":1757410740,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Novartis said it was buying a U.S.-listed biotech.Novartis on Tuesday said it was buying a U.S. biotech working on a cardiovascular drug, continuing what's been a flurry of acquisitions at a similar price point.Novartis said it was purchasing Tourmaline Bio for $48 per share, which had closed Monday at $30.18, valuing the New York company at $1.4 billion.Tourmaline shares  rocketed 56% to $47.10. Tourmaline has a drug in Phase 2 development to treat atherosclerotic cardiovascular disease, which Novartis calls a \"critical unmet need.\". 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Tourmaline has a drug in Phase 2 development to treat atherosclerotic cardiovascular disease, which Novartis calls a \"critical unmet need.\" \n\n\n     Novartis shares (CH:NOVN) $(NVS)$ slipped in Zurich trade. \n\n\n     According to FactSet, Novartis has bought several companies in the $1 billion to $3 billion range, including Regulus Therapeutics, Anthos Therapeutics, Kate Therapeutics, Mariana Oncology, MorphoSys, DTx Pharma and Chinook Therapeutics. \n\n\n     Last month, the Financial Times reported Novartis was considering bidding for Avidity $(RNA)$, a biotech developing treatments for rare muscle disorders. \n\n\n     -Steve Goldstein \n\n\n     This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal. \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  September 09, 2025 05:39 ET (09:39 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}