Novartis Has $21B From Roche Stake Sale - Which Company Is On Its M&A Radar?
Author: Vandana Singh | November 18, 2021 03:23pm
- Novartis AG (NYSE:NVS) is getting a massive influx of cash from selling its 20-year stake in Roche Holdings AG (OTC:RHHBY), triggering speculation about where the Company will spend the money.
- Another significant acquisition could be next. Alnylam Pharmaceuticals Inc (NASDAQ:ALNY) is a prime potential buyout target for Novartis, Bloomberg reported, citing people with knowledge of the matter.
- Alnylam is the developer of the RNA interference (RNAi) technology behind Novartis' newly acquired cholesterol drug Leqvio (inclisiran).
- The revelation follows Novo Nordisk A/S's (NYSE:NVO) announcement that it is shelling out $3.3 billion to purchase clinical-stage RNAi biotech Dicerna Pharmaceuticals Inc (NASDAQ:DRNA).
- The report added that Vertex Pharmaceuticals Inc (NASDAQ: VRTX), Intellia Therapeutics Inc (NASDAQ: NTLA), Biogen Inc (NASDAQ: BIIB), Incyte Corp (NASDAQ: INCY), and BioMarin Pharmaceutical Inc (NASDAQ: BMRN) are among a range of other companies seen as potential targets.
- Also Read: Novartis Mulls Strategic Options For Sandoz, Reaffirms FY21 Outlook.
- Price Action: ALNY shares are up 4.60% at $180.68 during the market session on the last check Thursday.
Posted In: ALNY BIIB BMRN DRNA INCY NTLA NVO NVS RHHBF RHHBY RHHVF VRTX