Novartis Acquires Tourmaline Bio for $1.4 Billion to Boost Cardiovascular Portfolio

Novartis, a prominent Swiss pharmaceutical company, has announced its acquisition of Tourmaline Bio at a price of $48 per share. This acquisition values Tourmaline Bio at approximately $1.4 billion. The deal is aimed at enhancing Novartis's portfolio of cardiovascular disease treatments, a critical area of healthcare that affects millions of patients globally.

Tourmaline Bio specializes in the development of pacibekitug, a promising targeted therapy with the potential to reduce systemic inflammation. This therapy is seen as a viable treatment option for atherosclerotic cardiovascular diseases. By acquiring Tourmaline Bio, Novartis gains access to an asset that is ready to enter Phase III clinical trials, thereby supplementing its existing range of cardiovascular products.

Both companies' boards of directors have unanimously approved the transaction. According to the agreement, Novartis will initiate a tender offer to acquire all outstanding shares of Tourmaline Bio. The acquisition is expected to be completed in the fourth quarter, at which point Tourmaline Bio will become an indirect wholly-owned subsidiary of Novartis.

This strategic move aligns with Novartis's long-term strategy of investing in cutting-edge research and development to address unmet medical needs. By integrating Tourmaline Bio's advanced clinical-stage asset into its portfolio, Novartis aims to accelerate the development and commercialization of new treatments for cardiovascular diseases. This acquisition underscores Novartis's commitment to improving patient outcomes and advancing medical science.

The transaction highlights Novartis's proactive approach in identifying and acquiring promising biotechnology companies that can contribute to its growth and innovation. The acquisition of Tourmaline Bio is expected to strengthen Novartis's position in the cardiovascular disease market, providing patients with access to more effective and innovative treatment options. This move is a significant step forward in Novartis's efforts to enhance its capabilities in developing innovative therapies for cardiovascular diseases, a critical area of healthcare that affects millions of patients worldwide.