Novartis AG (SWX:NOVN) is close to clinching an acquisition of Cytokinetics, Incorporated (NasdaqGS:CYTK) and its promising heart drug, as big pharmaceutical companies continue to snap up fast-growing biotechs to replenish their pipelines. A purchase by the Swiss drug company of South San Francisco-based Cytokinetics, which has a market value of about $9 billion, could be completed as soon as this week, according to people familiar with the situation. Cytokinetics has been running a sale process and it is possible another suitor could re-emerge; there also may be no deal at all.
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52.87 USD | -1.91% |
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06-24 | JPMorgan Cuts Price Target on Cytokinetics to $65 From $77, Maintains Overweight Rating | MT |
06-17 | Cytokinetics Insider Sold Shares Worth $262,750, According to a Recent SEC Filing | MT |
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95.89 CHF | -0.12% | +2.94% | 219B | ||
52.87 USD | -1.91% | +1.79% | 6.26B | ||
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