Novartis AG is buying U.S. biotechnology company The Medicines Co for about $9.7 billion, the Swiss drugmaker said on Sunday, as it seeks to expand its portfolio of medicines against cardiovascular disease. The deal is expected to help to broaden the Swiss drugmaker’s range of heart medicines and shore up growth threatened by patent expirations. Novartis is paying $85 per share in cash, an approximately 24% premium over The Medicines Co.’s closing share price of $68.55 on November 22, Novartis said in a statement, adding the transaction had been approved by the boards of directors of both …read more
Source:: Yahoo Finance
