Novartis AG Sponsored ADR Pharmaceuticals (NVS.US) to Acquire Anthos to Strengthen Cardiovascular Drug Pipeline, Deal Valued at Up to $3.1 Billion.

Swiss pharmaceutical giant Novartis AG Sponsored ADR (NVS.US) announced on Tuesday that it has agreed to acquire biopharmaceutical company Anthos Therapeutics for up to $3.1 billion to strengthen its late-stage cardiovascular drug development pipeline. Anthos, co-founded by Blackstone Life Sciences under Blackstone (BX.US) and Novartis AG Sponsored ADR in 2019, is dedicated to developing, manufacturing, and commercializing a treatment drug called abelacimab for the prevention of strokes and prevention of recurrent blood clots. Novartis AG Sponsored ADR stated that the transaction is expected to be completed in the first half of this year, with an upfront payment of $925 million and potential additional payments of up to $2.15 billion based on future events. Chief Executive Officer of Anthos, Bill Meury, stated: "Novartis AG Sponsored ADR has a strong foundation in the cardiovascular field, making them particularly suited to advance the clinical development of abelacimab and bring this innovative product to healthcare providers and patients."