November 24, 2019 / 8:16 PM / 19 days ago

BRIEF-Novartis To Acquire The Medicines Company For $9.7 bln

Nov 24 (Reuters) - Novartis Ag:

* REG-NOVARTIS TO ACQUIRE THE MEDICINES COMPANY FOR USD 9.7 BN, ADDING INCLISIRAN, A POTENTIALLY TRANSFORMATIONAL INVESTIGATIONAL CHOLESTEROL-LOWERING THERAPY TO ADDRESS LEADING GLOBAL CAUSE OF DEATH

* OFFER PRICE OF USD 85.00 PER SHARE

* NOVARTIS - DEAL EXPECTED TO MODESTLY DILUTE CORE EPS VERSUS A NO DEAL SCENARIO DURING NEXT FEW YEARS AS CO INVESTS FOR A SUCCESSFUL LAUNCH OF INCLISIRAN

* TRANSACTION HAS BEEN UNANIMOUSLY APPROVED BY BOARDS OF DIRECTORS OF BOTH COMPANIES

* NOVARTIS PLANS TO FINANCE TRANSACTION THROUGH AVAILABLE CASH AND SHORT- AND LONG-TERM BORROWINGS

* TRANSACTION IS EXPECTED TO CLOSE IN Q1 OF 2020, SUBJECT TO SATISFACTION OR WAIVER OF ALL CLOSING CONDITIONS

* NOVARTIS - EXPECTS DEAL TO BE SIGNIFICANTLY ACCRETIVE TO GROUP CORE OPERATING INCOME AND CORE EPS IN MEDIUM TERM

* ASSUMING COMPLETION IN Q1 OF 2020, CO EXPECTS INCLISIRAN TO START TO CONTRIBUTE TO GROUP AND IM DIVISION SALES FROM 2021 Source text for Eikon: Further company coverage:

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