Novartis Acquires Pikavation Therapeutics for $2bn, Amidst Patent Cliff Concerns.

Novartis has acquired Pikavation Therapeutics for $2bn, gaining a pan-mutant-selective PI3Kα inhibitor, SNV4818, for breast cancer and solid tumors. This deal follows Eli Lilly's acquisition of STX-478, another PI3Kα inhibitor. Novartis' stock has dropped nearly 10% on the news, despite the company's optimism about the deal, which aims to improve tolerability and benefit for patients through precision medicine.