Novartis to acquire The Medicines Company for $9.7bn with eye on inclisiran
Novartis acquisition of The Medicines Company : Swiss drugmaker Novartis signed a deal worth $9.7 billion to acquire US biopharma company The Medicines Company, as per the latest pharma acquisition news.
As per the terms of the all-cash deal, Novartis will acquire The Medicines Company for $85.00 per share.
The Medicines Company, which is headquartered in Parsippany, New Jersey, focuses on developing drugs for the treatment of cardiovascular disease. The company’s goal is to stop the deadly progression of atherosclerosis and the cardiovascular risk caused by high levels of LDL-C, or bad cholesterol.
Recently, The Medicines Company released data from its clinical program made up of three phase 3 clinical trials – ORION-9, 10 and 11 for inclisiran, which featured more than 3,600 high-risk patients with atherosclerotic cardiovascular disease (ASCVD) or familial hypercholesterolemia (FH).
In all three clinical trials, inclisiran showed potent and durable LDL-C reduction while sustaining an excellent safety and tolerability profile. Also, inclisiran’s twice-yearly dosing schedule enables administration of the drug during routine visits of the patients to their healthcare professionals and is expected to contribute to enhanced patient adherence and sustained lower LDL-C levels.
The Medicines Company plans to file regulatory submissions with the US FDA in Q4 2019 and in Europe in Q1 2020. Currently, a clinical trial called ORION-4 is assessing the cardiovascular morbidity and mortality benefits of inclisiran.
Mark Timney – CEO of The Medicines Company, commenting on Novartis acquisition of The Medicines Company, said: “Our company’s singular, relentless focus and the unwavering commitment of our employees have led to this opportunity to unlock the intrinsic value of inclisiran for patients and to maximize value for our shareholders.
“We are excited that millions of patients with atherosclerotic cardiovascular disease and familial hypercholesterolemia will potentially benefit from this transformational therapy.”
Novartis acquisition of The Medicines Company enables the former to continue creating pipeline depth in a major therapeutic area. It will add a potential siRNA inhibitor targeting PCSK9 designed to essentially bring in a change in the treatment of elevated LDL-C in high risk patients.
The planned regulatory submission by The Medicines Company for inclisiran represents a near-term product launch opportunity and is likely to contribute to its sales from 2021, said Novartis.
Novartis acquisition of The Medicines Company will also enlarge the cardiovascular portfolio of the Swiss drugmaker and will help it tap into its key commercial capabilities in the US and across the world.
Marie-France Tschudin – President of Novartis Pharmaceuticals, commenting on Novartis acquisition of The Medicines Company, said: “Novartis has a longstanding history of delivering breakthrough cardiovascular treatments for patients, and I am very excited about the opportunity to add inclisiran to our cardiovascular portfolio.
“This transformational, new investigational medicine has the potential to meaningfully address one of the largest areas of underserved patient need. We believe our strong capabilities and global footprint can help drive broad worldwide access to this much needed treatment.”
Subject to the meeting or waiver of all closing conditions, Novartis acquisition of The Medicines Company, is likely to be wrapped up in Q1 2020, as per the latest pharma acquisition news.