Posted on 24/12/2009 in Pharmaceutical Company Restructures Novartis revealed this week that it plans to acquire Corthera ? a move that will result in the company also gaining the rights to the drug relaxin.
Relaxin has previously been shown to possess vasodilator abilities, which improves breathlessness reduces cardiovascular morbidity and the number of days an individual needs to spend in hospital.
As part of the agreement, Novartis will pay US$120 million (74.9 million pounds) for Corthera, with the latter firm's shareholders being eligible for additional payments of up to $500 million with the advent of various milestones.
Trevor Mundel, global head of development at Novartis, commented: "Relaxin will be an important addition to our expanding pipeline of novel development projects targeting cardiovascular disease."
Earlier this month, Novartis revealed that a phase III trial demonstrated the effectiveness of its product Tasigna (nilotinib) in the treatment of adult patients with newly diagnosed Philadelphia chromosome-positive chronic myeloid leukaemia. Other news stories from 24/12/2009
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