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Swiss drugmaker Novartis (NOVN.S) has signed an up to $5.2 billion licensing and options deal with Argo Biopharmaceutical for its experimental cardiovascular drugs.
Novartis has signed a licensing and options deal with Argo Biopharmaceutical worth up to $5.2 billion.
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The agreement covers experimental cardiovascular drugs including one in mid-stage trials for high blood fat.
Novartis has obtained rights for sales of these drugs outside China.
Novartis has shown non-binding interest in participating in Argo's next equity financing round.
The company's logo is seen at a building of Swiss drugmaker Novartis in Rotkreuz, Switzerland, January 29, 2020. REUTERS/Arnd Wiegmann/ File Photo Purchase Licensing Rights , opens new tab
Sept 3 (Reuters) - Swiss drugmaker Novartis (NOVN.S) , opens new tab has signed an up to $5.2 billion licensing and options deal with Argo Biopharmaceutical for its experimental cardiovascular drugs, the China-based biotech said on Wednesday.
The deal includes an experimental genetic medicine in mid-stage study to control high blood fat levels and an option to license two drug candidates for high levels of certain blood cholesterols, which increase the risk of heart disease.
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The deals are for sales outside China, Argo said.
The biotech, which develops genetic medicines, said Novartis has also expressed a non-binding intention to participate in its next round of equity financing.
Reporting by Mariam Sunny in Bengaluru; Editing by Shinjini Ganguli and Sriraj Kalluvila
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