Global Briefs: Novartis, Gilead, Recordati, Takeda, Otsuka & More
A roundup of news from the large and mid-sized bio/pharmaceutical companies featuring Novartis, Gilead Sciences, Otsuka, Merck & Co., Roche, Recordati, and Takeda. Highlights below.
M&A News
* Novartis To Acquire Synnovation’s Oncology Drug in $3-Bn Deal
* Gilead To Acquire Ouro Medicines In $2.1 Bn Deal
* Novartis To Acquire Excellergy for $2 Bn
* Otsuka To Acquire Transcend Therapeutics in $1.2-Bn Deal
* Recordati Confirms CVC’s Non-Binding Interest in Acquiring the Company
Restructuring
* Takeda Provides Update on Restructuring Plan
Partnering News
* Merck & Co., Infinimmune In $838-M Antibody Drug Development Pact
General
* Roche Expands AI and Computational Infrastructure
M&A News
Novartis To Acquire Synnovation’s Oncology Drug in $3-Bn Deal
Novartis has entered an agreement with Synnovation Therapeutics, a Wilmington, Delaware-based bio/pharmaceutical company, to acquire Synnovation’s SNV4818, a breast-cancer drug, in a deal worth up to $3 billion ($2 billion upfront and $1 billion in milestone payments).
SNV4818 is an oral drug currently being evaluated in a Phase I/II study for breast cancer and other advanced solid tumors. SNV4818, a pan-mutant‑selective PI3Kα inhibitor, potentially represents a next-generation approach for the treatment of patients with HR+/HER2- breast cancer and potentially other solid tumor indications. It fits alongside CDK inhibitors as well as endocrine (hormonal) therapies as part of a potential combination regimen.
Under the agreement, Novartis will pay $2 billion upfront and up to $1 billion in milestone payments to Synnovation Therapeutics to acquire Pikavation Therapeutics, a wholly-owned subsidiary of Synnovation that holds a portfolio of pan-mutant selective PI3Kα inhibitor programs, including SNV4818. The transaction is expected to close in the first half of 2026, subject to the satisfaction or waiver of customary closing conditions, including regulatory approvals.
Source: Novartis
Gilead To Acquire Ouro Medicines In $2.1-Bn Deal
Gilead Sciences has agreed to acquire Ouro Medicines, a privately held biotechnology company focused on developing T cell engager therapies for autoimmune diseases, in a deal worth up to $2.1 billion ($1.6 billion upfront and $500 million in milestone payments).
The acquisition would add OM336 (gamgertamig), a clinical‑stage BCMAxCD3 T cell engager, to Gilead’s inflammation portfolio. OM336 is designed to enable B cell depletion following a limited subcutaneously administered treatment course. In ongoing Phase I/II clinical studies, OM336 has demonstrated transformative efficacy and a differentiated safety profile after a single treatment cycle in severe antibody-mediated orphan diseases, including autoimmune hemolytic anemia (AIHA) and immune thrombocytopenia (ITP), according to information from Gilead Sciences. Gamgertamig has been granted both fast-track and orphan drug designation by the US Food and Drug Administration for the treatment of AIHA and ITP and is expected to enter registrational studies in 2027.
Under the agreement, Gilead will acquire all of the outstanding equity of Ouro Medicines for a total of $1.6 billion in upfront cash consideration, subject to customary adjustments, which is payable at closing, and up to $500 million in contingent milestone payments. Closing of the transaction is subject to expiration or termination of certain regulatory filings and other customary conditions.
Source: Gilead Sciences
Novartis To Acquire Excellergy for $2 Bn
Novartis has agreed to acquire Excellergy, a privately held bio/pharmaceutical company developing anti-immunoglobulin E (IgE) therapies for IgE-driven diseases, for $2 billion, as part of Novartis’ immunology strategy in food allergy and other IgE-driven diseases.
The proposed acquisition adds Exl-111, a half-life extended, high-affinity anti-IgE antibody in Phase I clinical trials. Exl-111 is designed as an extension of validated biology established by anti-IgE therapy, with the potential to complement the Novartis existing allergy portfolio across a range of allergic conditions and patient settings.
Under the agreement, Novartis will pay up to $2 billion in upfront and milestone payments to acquire Excellergy. The transaction is expected to close in the second half of 2026, subject to the satisfaction or waiver of customary closing conditions, including regulatory approvals.
Source: Novartis
Otsuka To Acquire Transcend Therapeutics in $1.2-Bn Deal
Otsuka Pharmaceutical has agreed to acquire Transcend Therapeutics, a clinical-stage biotechnology company developing treatments for neuropsychiatric diseases, in a deal worth up to $1.2 billion ($700 million upfront and $525 million in milestone payments).
The company’s lead candidate is TSND-201 (methylone), a rapid-acting neuroplastogen—an agent that induces rapid and durable neural plasticity in the brain—that is being advanced as a potential treatment for post-traumatic stress disorder (PTSD) and other psychiatric conditions.
Under the agreement, Otsuka will pay $700 million to Transcend shareholders upon closing of the acquisition, and up to $525 million in additional contingent consideration based on future sales milestones related to assets in development, for a total potential consideration of $1.225 billion.
The acquisition is expected to be completed in the second quarter of 2026, subject to the fulfillment of customary closing conditions and required procedures.
Source: Otsuka Pharmaceutical
Recordati Confirms CVC’s Non-Binding Interest in Acquiring the Company
Recordati, a Milan, Italy-based bio/pharmaceutical company confirmed on March 24, 2026, that it had received a non-binding indication of interest from the private-equity firm, CVC Capital Partners, concerning a potential voluntary tender offer for all outstanding shares of the company aimed at the delisting of the company. The company is currently listed on the Italian Stock Exchange.
The indication of interest is non-binding and subject to multiple conditions, including the completion of due diligence, the securing of financial resources needed to fund the transaction, and the identification of partners with whom to pursue the initiative. The indication of interest also includes an indicative valuation of EUR 52.00 ($60) per share. The company reported on March 24, 2026, that it has not yet reviewed the indication of interest within its corporate bodies.
Source: Recordati
Restructuring
Takeda Provides Update on Restructuring Plan
Takeda reported last week (March 25, 2026) that its Board of Directors approved the next steps in the company’s strategic plan, aligned with the company’s previously announced organizational restructuring, which is expected to deliver annualized gross savings of more than JPY 200 billion ($1.26 billion) by FY 2028.
Without reporting specifics, the company reported that increased efficiencies will be achieved through streamlining of corporate functions, bringing leadership and teams closer to patients and customers, and process simplification made possible by advanced technologies. These efficiencies will largely offset investments needed to prepare for multiple launches, including for oveporexton, rusfertide, and zasocitinib, progress the company’s late-stage pipeline, and support strategic technology investments.
As a result of these initiatives, Takeda says it currently estimates it will incur restructuring expenses of approximately JPY 150 billion ($940 million) in FY 2026, with lower restructuring expenses anticipated in FY 2027 and FY 2028. The FY 2026 restructuring expenses will be reflected in the company’s consolidated financial forecast for FY 2026 to be announced in the FY 2025 full-year earnings announcement. Details and timing of specific initiatives will be determined in due course. There is no significant impact on the full-year consolidated financial forecast for FY 2025 from these initiatives, according to the companies.
Source: Takeda
Partnering News
Merck & Co., Infinimmune In $838-M Antibody Drug Development Pact
Merck & Co. and Infinimmune, a bio/pharmaceutical company focused on antibody discovery and design, have entered an agreement to apply Infinimmune’s antibody discovery platform to identify and develop antibody candidates against multiple undisclosed targets designated by Merck, in a deal worth up to $838 million.
Under the agreement, Infinimmune will use its proprietary Anthrobody discovery platform and Glimpse antibody language model to discover and optimize therapeutic antibodies derived directly from human immune repertoires. The Infinimmune platform enables the screening of single memory B cells across potential targets to identify natively paired antibody candidates to enable identification of candidates with strong affinity, specificity, and favorable drug-like properties.
Merck will have the exclusive right to develop and commercialize antibody candidates arising from the collaboration. Under the agreement, Infinimmune will receive an undisclosed upfront payment and is eligible to receive milestone payments associated with the progress of multiple antibody candidates all totaling up to approximately $838 million.
Source: Infinimmune
General
Roche Expands AI and Computational Infrastructure
Roche has announced the launch of a large-scale artificial intelligence (AI) factory powered by Nvidia, the high-tech giant and producer of graphics processing units (GPUs), systems on chips, and application programming interfaces for data science, high-performance/accelerated computing, and AI. The new computational infrastructure supports Roche’s vision of building an AI-accelerated healthcare organization. This computational expansion marks the next phase of a strategic collaboration with Nvidia that the companies started in 2023.
Featuring 2,176 GPUs on premises across the United States and Europe and embedded across the entire value chain, this infrastructure is designed to accelerate the development of diagnostics and therapeutics. With this most recent investment, Roche’s combined on-premise and cloud GPU infrastructure now exceeds 3,500 Blackwell GPUs.
Source: Roche
