Novartis Has $21B From Roche Stake Sale - Which Company Is On Its M&A Radar?
Novartis AG (NYSE: NVS) is getting a massive influx of cash from selling its 20-year stake in Roche Holdings AG (OTC: RHHBY), triggering speculation about where the Company will spend the money.
Another significant acquisition could be next. Alnylam Pharmaceuticals Inc (NASDAQ: ALNY) is a prime potential buyout target for Novartis, Bloomberg reported, citing people with knowledge of the matter.
Alnylam is the developer of the RNA interference (RNAi) technology behind Novartis' newly acquired cholesterol drug Leqvio (inclisiran).
The revelation follows Novo Nordisk A/S's (NYSE: NVO) announcement that it is shelling out .3 billion to purchase clinical-stage RNAi biotech Dicerna Pharmaceuticals Inc (NASDAQ: DRNA).
The report added that Vertex Pharmaceuticals Inc (NASDAQ: VRTX), Intellia Therapeutics Inc (NASDAQ: NTLA), Biogen Inc (NASDAQ: BIIB), Incyte Corp (NASDAQ: INCY), and BioMarin Pharmaceutical Inc (NASDAQ: BMRN) are among a range of other companies seen as potential targets.
Also Read: Novartis Mulls Strategic Options For Sandoz, Reaffirms FY21 Outlook.
Price Action: ALNY shares are up 4.60% at $180.68 during the market session on the last check Thursday.
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