Novartis acquires Nektar's pulmonary business
This article was originally published in Scrip
Executive Summary
Novartishas acquired Nektar Therapeutics' pulmonary drug delivery business unit for $115 million in cash. The business, which employs around 140 people, will remain in Nektar's facility in San Carlos, California, and specialises in product formulation and delivery. Novartis hopes to use the acquired business to accelerate its pipeline in such diseases as COPD, asthma and cystic fibrosis. The acquisition will also give Novartis complete control of its joint programme with Nektar for the development of a new formulation of tobramycin for the treatment of lung infections associated with cystic fibrosis. As a result, Novartis will not pay Nektar any future milestones or royalties associated with the development project. The deal, which is expected to close by the end of this year, excludes Nektar's inhalation programmes for insulin, vancomycin, ciprofloxacin and amikacin.
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