(Bloomberg) — Novartis AG is close to a deal to buy Medicines Co., the developer of a promising cholesterol drug, for $85 a share, according to news reports.An agreement could be announced today, according to the Wall Street Journal, which assigned a $7 billion price tag to the deal. Umer Raffat, an analyst at Evercore ISI, put the transaction value at $9.1 billion when taking the fully diluted shares into account.The Swiss drugmaker has been conducting due diligence on the Parsippany, New Jersey-based company, Bloomberg reported last week. At $85 a share, Novartis would be paying about a 45% premium …read more
Source:: Yahoo Finance
