(Reuters) - Swiss drugmaker Novartis AG (NOVN.S) will buy U.S. gene therapy company AveXis Inc (AVXS.O) for $8.7 billion in cash, the companies said on Monday.
Logo of Swiss drugmaker Novartis is seen at its branch in Schweizerhalle near Basel, Switzerland, March 29, 2018. REUTERS/Arnd Wiegmann
The $218-per-share offer represents a premium of 88 percent to AveXis’ Friday close.
Reporting by Kanishka Singh in Bengaluru; Editing by Gopakumar Warrier