Pharmaceutical company Novartis buys Endocyte for 2 billion 100 million dollars

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Pharmaceutical company Novartis, operating in 155 countries around the world, announced plans to merge with American Endocyte, the developer of targeted therapies for cancer treatment, finversia.ru writes. Novartis, according to the agreement, will pay $2 billion 100 million for an American company, acquiring all its ordinary shares at $24 per share, which is 1.5 times more than the price of one share at 5 dollars 56 cents at the closure of trading on Wednesday. The deal must also be approved by Endocyte shareholders and regulators.

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