Novartis boosts oncology with $3.9bn acquisition

Swiss pharmaceutical company Novartis has bolstered its oncology portfolio with the acquisition of Advanced Accelerator Applications (AAA).

On Monday, October 30, Novartis announced the $3.9 billion acquisition of the France-based radiopharmaceutical company.

The deal will give Novartis access to Lutathera (177Lu-Dotatate), a radiogland therapy (RLT) product for neuroendocrine tumours.

“Radiopharmaceuticals, such as Lutathera, are unique medicinal formulations containing radioisotopes which are used clinically for both diagnosis and therapy,” said Novartis.

Lutathera is approved in Europe and is under review in the US for neuroendocrine tumours.

Neuroendocrine tumours, which develop from cells of the neuroendocrine system, are found in organs including the stomach, bowel and lungs.

Steve Jobs, co-founder of Apple, passed away in 2011 after suffering with a neuroendocrine tumour.

Novartis added that the deal will strengthen its oncology presence with both near-term product launches and a “new technology platform with potential applications across a number of oncology early development programmes”.

Bruno Strigini, CEO of Novartis oncology, said: “Novartis has a strong legacy in the development and commercialisation of medicines for neuroendocrine tumours where significant unmet need remains for patients.”

He added that with Lutathera, Novartis can “build on this legacy” by expanding the global reach of the treatment approach and work to maximise AAA’s broader RLT pipeline and technology platform.

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