Novartis to buy Chinook for $3.5 billion to boost late-stage pipeline

Novartis to buy Chinook for $3.5 billion to boost late-stage pipeline.

This deal is 67 percent above Chinook’s June 9, 2023, closing price and 83% above the stock’s 60-day volume-weighted average price.

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The boards of directors for both businesses have unanimously endorsed the deal.

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Chinook will continue to run as a distinct and independent business up until that point.

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