Swiss pharmaceutical company Novartis today offered to buy French Advanced Accelerator Applications ( AAA ) in a US $ 3,900 million deal in cash, which would strengthen the oncology portfolio of the world’s largest manufacturer of prescription drugs.
The Novartis offer represents a premium of 47% over the price of Advanced Accelerator Applications (AAA) before the media reported the interest of the Basel-based firm on September 27.
Novartis said it would finance the agreement with debt.
Novartis seeks to add AAA radiopharmaceuticals – which use minimal amounts of radioactive compounds – not only to create functional images of organs and injuries but also to treat diseases such as cancer.
Advanced Accelerator Applications’s flagship product, Lutathera, received support from the European Union in late September for use against gastro-entero-pancreatic neuroendocrine tumors, the type of cancer that caused the death of Apple founder Steve Jobs.