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Novartis completes tender offer for Advanced Accelerator Applications S.A. and commencement of subsequent offering period
Jan. 22, 2018 08:35AM PST
Pharmaceutical Investing
Novartis (NYSE: NVS) announced the successful completion of the tender offer by its subsidiary, Novartis Groupe France S.A., to purchase all of the outstanding ordinary shares, including Ordinary Shares represented by American Depositary Shares, of Advanced Accelerator Applications S.A. (NASDAQ: AAAP), for a price of USD 41.00 per Ordinary Share and USD 82.00 per ADS, …
Novartis (NYSE: NVS) announced the successful completion of the tender offer by its subsidiary, Novartis Groupe France S.A., to purchase all of the outstanding ordinary shares, including Ordinary Shares represented by American Depositary Shares, of Advanced Accelerator Applications S.A. (NASDAQ: AAAP), for a price of USD 41.00 per Ordinary Share and USD 82.00 per ADS, in each case payable net to the seller in cash, without interest.
As quoted in the press release:
“Advanced Accelerator Applications brings to Novartis a potential paradigm changing therapy in Lutathera which builds on our established leadership in neuroendocrine tumor treatment, as well as a portfolio of innovative R&D technology platforms in the nuclear medicines space,” said Vas Narasimhan, Global Head, Drug Development and Chief Medical Officer, Novartis. “We are excited to welcome AAA to the Novartis organization so we can collectively transform cancer care for patients.”
