Novartis acquires Tourmaline Bio from the US
AI-Generated Summary
Swiss pharmaceutical giant Novartis is set to acquire US-based biopharmaceutical company Tourmaline Bio for approximately $1.4 billion (CHF1.1 billion). This strategic move signifies Novartis's continued expansion and investment in the American biopharmaceutical market. The acquisition is a notable development in the global pharmaceutical industry.
In a nutshell
This acquisition underscores the ongoing trend of consolidation within the pharmaceutical sector, as established companies like Novartis seek to bolster their pipelines and market share through strategic purchases of innovative biotech firms. It reflects a focus on growth through external innovation.
Source: Swissinfo (EN)
