Arrowhead Pharmaceuticals and Novartis Partner for Parkinson's Disease Treatment, Valued at Up to $2.2 Billion

Arrowhead Pharmaceuticals and Novartis inked a licensing deal worth up to $2.2 billion for an experimental Parkinson's drug, ARO-SNCA. Novartis will pay $200 million upfront and up to $2 billion in milestones plus royalties on sales. Arrowhead's CEO called Novartis a "compelling partner" and highlighted the potential of their RNA-targeting drugs to address neurodegenerative diseases. Arrowhead Pharmaceuticals stock surged 5.6% to $23.27.