Novartis Buyout/Partnership Talks Are Back On!!!...Big News Coming!!?!!
For traders in the drug world it is no secret that Novartis wants to add another biotech company to its portfolio and have shown interest in CPRX in the past. It currently has an interest in Cell Therapeutics but as of now has not exercised the right (see CTIC history) as they are wanting a US FDA approved drug and that is something CTIC cannot provide at this time. Being that Navortis has shown interest in Catalyst before, but were pushed away as ownership wanted to go solo. However, with what has recently happened to CPRX with its addiction drug, Novartis has contacted PPHM again with hopes of coming to an agreement as they are preparing a buyout proprosal to be presented this week. For those that don't know, Novartis is a major and very large cash positive pharmaceutical company based in Europe. I'm sure that CPRX ownership is listening to Novartis this time since Novartis has many times over had US approved drugs and has ownership in many other companies including Alcon (ACL) and based on their history, they know what it takes to help companies achieve US FDA approval. This are very exciting times for Catalyst Pharmaceutical Partners Inc. and the common share holders as well!!
Why did i...well do your own DD, but Novartis has an interest in multiple companies and they do many cocurrent proprosals and evaluate what is best for the company in the market they searching for future growth. I actually worked at Alcon during the buyout there in 2010. Alcon was having an issue with a macular degeneration drug gaining approval...Navartis came in and the rest is history. Bascially, they buying companies that are on the brink of approval but having to work out some bugs so-to-speak...CTIC is another example, however, they have not exercised their leverage at this time. Why...they are looking for a better prospect. Take a look at PPHM and you will see why it has exploded as they are awaiting news from the Novartis buyout.