Narasimhan, who raised Novartis's 2018 revenue forecast on Thursday as he released third-quarter results, is counting on Endocyte's treatment for prostate cancer topping $1 billion in sales after it hits the US market in 2021.
The companies expect the takeover to close in the first half of next year, pending approval by regulators and Endocyte's shareholders, who would receive $24 per share-which is 54% more than Endocyte's closing price on Wednesday.
On their part, Endocyte through CEO Mike Sherman had this to say, "We are thrilled that Novartis recognizes the potential for Lu-PSMA-617 to change the treatment landscape for men with metastatic castration-resistant prostate cancer (mCRPC), as well as the broader role that RLTs may potentially play in the treatment of cancer".
Novartis has entered into an agreement and plan of merger with Endocyte, a US -based biopharmaceutical company focused on developing targeted therapeutics for cancer treatment. In the transaction, Endocyte would be merged with a newly formed subsidiary of Novartis.
The treatment targets the prostate-specific membrane antigen (PSMA), present in the majority of patients with mCRPC, and has shown promising Phase II data, Novartis said. 177Lu-PSMA-617 is now being investigated in a global Phase III clinical trial in men with mCRPC.
Les NTIC : avantages et inconvénients
En effet, avoir mille et une tâches à accomplir à la fois, ça peut avoir des effets négatifs. En effet, les travailleurs effectuent les tâches beaucoup plus rapidement tout en conservant leur qualité de vie.
"Note a below-average reaction time at the business development department considering that the Endocyte market cap was at $110 million only 12 months ago", Baader Helvea's Bruno Bulic said.
For Novartis (nvs), the deal could provide a major upcoming product launch, along with the opportunity to see if the treatment works in other types of prostate cancer therapy.
Separately, Novartis raised the lower end of its forecast for sales growth for the year, saying that annual sales will rise by a mid-single-digit percentage.
Novartis announced plans to purchase USA cancer drug specialist, Endocyte, earlier Thursday.
Nul doute qu’elle offrira à Mika la meilleure option pour poursuivre sa carrière dans le sport automobile. Et il n'est pas Andrei Arshavin, pour répondre à la question sur les attentes facilement et naturellement.
The announcements came in a flurry of statements carried by the state-run Saudi Press Agency early Saturday morning. In statements that followed, the kingdom announced the firing of four top intelligence officials, including Maj.
In August, Southeast Asian nations and China adopted a negotiating framework for a broader code of conduct in the South China Sea. China claims sovereignty over nearly the entire area, including waters near the shores of smaller countries.
Mr Khan is one of the speakers who will address protesters at the event and said he is "proud" to host the march in his city. Tomorrow is the People's Vote rally in Central London, and it's so important that even MPs are urging people to attend.
This is the first time that "Thalapathy" has openly spoken about his ambitions to become a CM, even hypothetically. The mass dialogues and the thumping score by AR Rahman enhances the trailer to the next level.
The future is tomorrow, no more. "The last match he started on the bench and played 25 minutes with this performance". Unai Emery says he will not rush Laurent Koscielny back into the lineup as the Frenchman awaits a return from injury.
Maroc : le déficit commercial s'aggrave encore (+8,2%)
Les secteurs de l'aéronautique et du textile et cuir augmentent respectivement de +1,2 Md de DH et de +1,3 Md de DH. La hausse des achats de ces trois groupes de produits représente 73,9% de la hausse totale des importations.
Netflix has canceled Luke Cage after two seasons
Despite the return of Daredevil this weekend for its third season, the Hero of Harlem wasn't so lucky. Another Netflix MCU series bites the dust, as Luke Cage will not be returning for a third season.
Donald Trump reconnaît la mort de Jamal Khashoggi
Trump et Pompeo qu'il avait décidé d'annuler son prochain voyage dans le royaume wahhabite pour un forum économique à Riyad . Le journaliste, qui collaborait notamment avec le Washington Post, était très critique envers le régime saoudien.
Briton faces jail for spraying 'Scouser Lee' on Thai gate
Pol Maj Anon said the pair did not yet have a lawyer, adding that they showed signs of having been intoxicated when arrested. If found guilty, the tourists could each face 10 years behind bars and a 1 million baht fine, which equals around $40,000.