Novartis in advanced talks to buy Cytokinetics: Source
Access to Cytokinetics products would help Novartis offset the expected loss of U.S. exclusivity of Entresto, its key drug in this field, said Vontobel pharmaceuticals analyst Stefan Schneider.;
Swiss drugmaker Novartis is in the lead to acquire Cytokinetics in a deal that could value the drug developer at well over $10 billion, a source familiar with the matter said on Monday.
Novartis is poised to prevail in the auction for Cytokinetics, ahead of other bidders that include AstraZeneca and Johnson & Johnson, according to the source.
A deal could be announced as early as this week, the source said, helping Novartis gain access to Cytokinetics' experimental treatment, aficamten, for hypertrophic cardiomyopathy (HCM), an inherited chronic heart disease that can cause cardiac arrest.
Spokespersons for Cytokinetics and Novartis said the companies do not comment on M&A speculation.
Vontobel pharmaceuticals analyst Stefan Schneider said a deal made sense for Novartis, with Cytokinetics active in the cardiovascular field, one of the Swiss company's five main therapeutic areas.
Access to Cytokinetics products would help Novartis offset the expected loss of U.S. exclusivity of Entresto, its key drug in this field, he added.
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