AveXis

AveXis founded in 2010 is engaged in developments in the field of gene therapy. In particular, the company carried out a number of clinical trials of medicine on fight against a spinal muscular atrophy, the rare hereditary disease which is found at one of 6-10 thousand people. The disease is caused by violation in one gene, and medicine of the company is designed to replace it and to prevent a disease at babies.

History

2018: Novartis  purchased AveXis for $8.7 billion

On April 9, 2018 the Swiss pharmaceutical giant Novartis announced AveXis acquisition. The cost of the transaction is $8.7 billion.

Under the terms of the agreement, Novartis  will pay $218 for each stock AveXis that is 88% more than a quotation rate to closing of the exchange on April 6.

Novartis will pay purchase from own means which part will be taken from proceeds from sales of a share in joint venture with GlaxoSmithKline for $13 billion.

Novartis purchased producer of the gennoterapevtichesky medicines AveXis for $9 billion

Merge of Novartis  and AveXis was unanimously supported by Boards of Directors of both companies. Before closing of the transaction which is planned on the middle of 2018 regulators of some countries should approve it.

The main medicine produced by AveXis — AVXS-101 for suffering from the spinal muscular atrophy (SMA) which often leads to early death or is the reason of disability. This medicine, according to the CEO of Novartis of Vaasa  Vas Narasimhan, can become "the first-ever single gene replacement therapy" thanks to what it has a potential to reach multi-billion sales. In the markets which are already mastered by Novartis, the number of patients from SMA is estimated at 23.5 thousand people by the beginning of April, 2018.

After the statement for merger of AveXis of a stock of Novartis rose in price for 0.6% on Monday, April 9. For the last 12 months market capitalization of the Swiss company increased more than by 5% and reached 203.3 billion Swiss francs ($211.8 billion at the rate of for April 9).^[1]

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