The transaction was unanimously approved by the boards of Novartis and AveXis. Photo: AFPTokyo: Novartis AG agreed to acquire AveXis Inc. for $8.7 billion to expand its position in gene therapy with a treatment for a rare disease that afflicts infants. Shareholders of the Bannockburn, Illinois-based company will receive $218 a share in cash in a tender offer, Novartis said in a statement Monday. It was unanimously approved by the boards of both companies. The first gene therapy approved in Western Europe, UniQure NV’s Glybera, turned out to be a flop.

Source: Mint April 09, 2018 06:27 UTC