Novartis AG is ramping up in radiopharmaceuticals, buying US cancer specialist Endocyte Inc. for $2.1bn in a deal, building on the acquisition of Advanced Accelerator Accelerator Applications for $3.9bn last year.
Novartis Tunes Into Radiopharmaceuticals With Endocyte Buy
Endocyte paid just $12m upfront a year ago for a potential first-in-class investigational radioligand therapy for prostate cancer. Novartis is buying Endocyte for a whopping $2.1bn., highlighting the company's emphasis on building in radiopharmaceuticals.
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