Pharma & biotech

Novartis completes acquisition of biotech company for USD 3.2bn

The purchase price increases if selected regulatory and development milestones are met, meaning Novartis could pay as much as USD 3.5bn.
Novartis has completed June's announced acquisition of the American biotech company Chinook Therapeutics for up to USD 3.5bn | Photo: Arnd Wiegmann/Reuters/Ritzau Scanpix
Novartis has completed June's announced acquisition of the American biotech company Chinook Therapeutics for up to USD 3.5bn | Photo: Arnd Wiegmann/Reuters/Ritzau Scanpix
by ALBERT RØNNING-ANDERSSON

Swiss pharmaceutical giant Novartis has completed June’s announced acquisition of US-based biotech company Chinook Therapeutics for up to USD 3.5bn, a company press release states after first announcing the acquisition back in June.

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