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Array paying next to nothing for Novartis BRAF inhibitor

 
• By Mandy Jackson

As its acquisition of GlaxoSmithKline's oncology portfolio draws nearer to closing, Novartis is essentially paying Array BioPharma to take over development and commercialization of the BRAF inhibitor encorafenib (LGX818) just one month after the Swiss big pharma gave back its rights to Array's MEK inhibitor binimetinib under attractive terms.

As its acquisition of GlaxoSmithKline's oncology portfolio draws nearer to closing, Novartis is essentially paying Array BioPharma to take over development and commercialization of the BRAF inhibitor encorafenib (LGX818) just one month after the Swiss big pharma gave back its rights to Array's MEK inhibitor binimetinib under attractive terms.

Array closed up 40.8% at $7.11 per share on 23 January after the Boulder, Colorado-based company announced the encorafenib agreement,...

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