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Published on 25/11/2019 9:41:31 AM | Source: Reuters

Novartis nears deal to buy U.S. biotech firm Medicines Co for about $7 billion - WSJ

Posted in Top Stories| #Wall Street #World Market #US

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Swiss drugmaker Novartis AG is nearing an agreement to acquire U.S. biotechnology firm The Medicines Co for about $7 billion, the Wall Street Journal reported on Saturday.

The deal, in which Novartis has agreed to pay $85 a share, could be announced this weekend, the Journal reported, citing people familiar with the matter.

Neither Novartis nor The Medicines Co were immediately available for comment on Saturday.

 

(Reporting by Kanishka Singh in Bengaluru; editing by Jonathan Oatis)