Novartis Plans To Pay $2.1 Billion For U.S. Company Developing New Prostate Cancer Treatment
With the purchase, the Swiss company is adding to its arsenal of radiopharmaceuticals, a new group of drugs designed to more closely target cancer cells.
The Wall Street Journal:
Novartis To Buy Cancer-Drug Maker Endocyte For $2.1 Billion
Novartis AG on Thursday said it would pay $2.1 billion for Endocyte Inc., a U.S. company developing a new treatment for prostate cancer, the Swiss pharmaceutical giant’s latest move to double down on high-value prescription drugs. Endocyte specializes in so-called radiopharmaceuticals, a new class of drug that carries radioactive substances directly to cancer cells so they can kill tumor cells at close range. Novartis agreed to pay $24 a share for the company. (Roland and Mancini, 10/18)
In other pharmaceutical news —
Clovis, With New Study Data, Hopes To Be First To Develop A PARP For Prostate Cancer
Women with certain types of ovarian and breast cancers are benefiting from a relatively new class of drugs known as PARP inhibitors. Soon, men with advanced prostate cancer might be helped, too. Clovis Oncology (CLVS) disclosed new clinical trial results Friday showing a 44 percent tumor response rate following treatment with its PARP inhibitor, called Rubraca. The median duration of response has not yet been reached. (Feuerstein, 10/19)
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