Novartis completes $8.7bn acquisition of AveXis

Novartis completes $8.7bn acquisition of AveXis
Paul Hudson, CEO of Novartis Pharmaceuticals. Courtesy of Novartis

Novartis has completed its $8.7 billion acquisition of US-based Nasdaq-listed clinical stage gene therapy company AveXis.

Novartis CEO Vas Narasimhan said: “We are delighted to add AveXis’ leading gene therapy technology to our company and to welcome our AveXis colleagues to Novartis.

“Together, we now have the potential to bring to children the first one-time gene-based treatment for the devastating disease, spinal muscular atrophy.

“The deal also supports our strategy to deliver transformative innovation in areas of high unmet medical need, and advances our growing pipeline of gene therapies with the potential to transform the care of diseases, from SMA and cancer to blindness.”

Paul Hudson, CEO of Novartis Pharmaceuticals, added: “ Novartis and Avexis bring truly complementary capabilities behind a shared purpose – transforming the care of patients with life-threatening neurological genetic diseases.

“AveXis has built a team with exceptional depth of expertise and experience, a clinically proven gene delivery platform, manufacturing and R&D capabilities, while Novartis has been for 70 years a leader in Neuroscience, building on a global footprint and its extensive experience in bringing transformational medicines to the clinic stage.”