- Novartis (NYSE:NVS) has agreed to buy all remaining rights to an experimental drug from GlaxoSmithKline (NYSE:GSK) for as much as $1B, bolstering the Swiss drugmaker's stable of treatments for multiple sclerosis.
- Novartis will pay $300M upfront to Glaxo for ofatumumab, followed by another $200M after late-stage clinical trials, and may pay another $534M if certain milestones are met during the drug's development.