Novartis is buying gene therapy and neuroscience biotech Kate Therapeutics in a deal worth $1.1 billion in upfront and milestone payments, the Swiss pharma confirmed to Endpoints News. And Novartis is not done yet. It is still on the lookout for bolt-on M&A opportunities — but don’t expect them to go higher than $3 billion. “That’s not that we couldn’t do a little bit bigger, but that’s the majority of the available target companies, if you will,” Novartis CFO Harry Kirsch told the media ahead of its investor event in London.
Read the full article: Novartis Seeks More Bolt-On Deals as It Purchases Neuro Startup for up to $1.1B //
Source: https://endpts.com/novartis-buys-kate-therapeutics-in-1-1b-deal-eyes-more-bolt-on-ma/