Novartis has completed its $9.7-billion acquisition of the Medicines Company, a biopharmaceutical company focused on cardiovascular diseases, through its wholly-owned subsidiary, Medusa Merger Corporation. As a result of the merger, The Medicines Company has become an indirect wholly-owned subsidiary of Novartis. Novartis will gain The Medicines Company’s investigational twice-yearly administered therapy, inclisiran, for treating atherosclerotic heart disease and familial hypercholesterolemia, which results in high levels of low-density lipoprotein cholesterol (LDL-C).

In December 2019, The Medicines Company submitted the New Drug Application for inclisiran to the US Food and Drug Administration for use in secondary prevention patients with atherosclerotic cardiovascular disease and FH. Novartis says that inclisiran provides the company with a soon-to-launch, potentially first-in-class product that “could become one of the largest products by sales in Novartis portfolio, leveraging significant synergies with existing global cardiovascular commercial capabilities,” said the company in a November 24, 2019 press release.

Under the agreement, Novartis has acquired the company for $85.00 per share in cash, valuing the company at approximately $9.7 billion on a fully diluted equity basis. Novartis expects inclisiran to start to contribute to Novartis and its Innovative Medicines Division sales from 2021.

Source: Novartis