Reportedly, Novartis AG is in talks to acquire Parsippany, New Jersey-based The Medicines Company (MDCO) a developer of a promising cholesterol drug, as per sources. Other potential acquirers have also shown interest in the purchase of Medicines, tripling the value of its shares recently this year and raising its market value to about $5.562 billion today.
Novartis Chief Executive Officer Vas Narasimhan has been working to sharpen the company’s deals on innovative drugs like cancer and other rare diseases. Medicines Co.’s drug Inclisiran cleared a major block this summer delivering durable and impressive results in lowering patients’ cholesterol. The drug is expected to be submitted to regulators in the U.S. this year in the first quarter of 2020 in Europe.
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