Novartis eyes Medicines Co to boost cardio franchise: report [Reuters]
MEDICINES (MDCO)
Last medicines earnings: 10/30 07:00 am
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Source: Reuters
Novartis eyes Medicines Co to boost cardio franchise: report ZURICH (Reuters) - Novartis ( NOVN.S ) is considering an offer for U.S. biotechnology firm The Medicines Co ( MDCO.O ), Bloomberg reported on Tuesday, a deal that could broaden the Swiss drugmaker’s cabinet of heart medicines and shore up growth threatened by patent expirations. Novartis, which declined to comment on the report, is hunting for a $5 billion acquisition in the United States, two banking sources told Reuters separately without identifying a target. New Jersey-based The Medicines Co’s top drug candidate is cholesterol-lowering drug inclisiran for heart patients. Novartis has historically had a strong cardiovascular drug franchise, but lost ground when Diovan, once a $6 billion-per-year seller, lost patent protection in 2012 and left the company without an immediate, innovative follow-up product. Novartis has since been building up its portfolio, which now includes Entresto, a $1 billion seller for heart fail
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