Novartis Buyout/Partnership Talks Are Back On!!!...Big New Coming!!
For traders in the drug world it is no secret that Novartis wants to add a cancer drug to its portfolio and have shown interest in PPHM 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. Navortis has shown interest in Peregine Pharmaceuticals before, but were pushed away as ownership wanted to go solo. However, with that has recently happened Novartis has contacted PPHM again with hopes of coming to an agreement. For those that don't know, Novartis is a very large and cash positive pharmaceutical company based in Europe. I'm sure that PPHM ownership is listening to Novartis this time since Novartis has many times over had approved drugs and has ownership in many companies including Alcon (ACL) and knows what it takes to help companies corrrect clinical trail issues and ultamately achieve FDA approval.