Arrowhead Research has come in to buy up Novartis' ($NVS) cast-off RNAi business for the bargain rate of $10 million in cash and $25 million in stock.
John Maraganore, the CEO at Alnylam and a fierce defender of its RNAi work, scoffed at Arrowhead's boasts about the deal--"phantasmagorical," he called it--and said the acquisition only reflects the little that Novartis was able to accomplish after years of research.
"I think the deal reflects the value of those assets," Maraganore tells FierceBiotech this morning. "What Novartis did was frankly pretty disappointing in terms of any advance in the field. It's exactly what you'd expect from not much."... okay John, okay.... k
I knew it! I've said this before . this drug will be the first drug marketed by Arrowhead ahead of the others. I hope management filed for fast track and all that... k