Novartis Pharmaceuticals (NVS.US) acquires Tourmaline Bio (TRML.US) at $48 per share, doubling down on cardiovascular disease therapy.

According to the China Fortune Financial APP, Swiss pharmaceutical giant Novartis (NVS.US) announced on Tuesday that it will acquire American biopharmaceutical company Tourmaline Bio (TRML.US) at a price of $48 per share. The valuation of Tourmaline Bio in this transaction is $1.4 billion. In response to this news, Tourmaline Bio's US stock rose nearly 13% on Tuesday.