Novartis AG has already started spending the $13bn proceeds from the sale of its stake in the GlaxoSmithKline PLC consumer joint venture, splashing $8.7bn on AveXis Inc. and making a huge stride into expanding its presence in gene therapy.
Novartis Goes Big On Gene Therapy With $8.7bn AveXis Acquisition
The Swiss major has made a larger-than-expected bolt-on buy, using a large chunk of its $13bn windfall from GSK to get hold of a potential cure for spinal muscular atrophy and an additional gene therapy platform, as well as manufacturing capabilities.
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