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Swiss Pharma Giant Novartis Acquires US Based Selexys Pharmaceuticals

  • Post By: YYogesh Joshi
  • 21 Nov 2016
Swiss Pharma

Novartis, a Swiss-based pharmaceuticals giant today informed that it was acquiring a US research lab in blood and inflammatory disorders, Selexys Pharmaceuticals Corp. The total cost of the deal is around $665 million (627 million euros). Selexys specialises in an inherited form of anaemia - sickle cell disease - that is found to be most common among people of African descent.

Second phase has just completed
In a released statement, Novartis said that it exercised rights to buy the company after seeing results from a large trial into a drug to treat pain for people with the disease. The drug, SelG1, aims at easing so-called vaso-occlusive pain crises. This vaso-occlusive pain crises happens when sickle-shaped red blood cells block the flow through blood vessels. The second phase of the three-phase prototype treatment has just completed to test new drugs for safety and effectiveness.

Sickle cell disease affects millions of people
"Sickle cell disease affects millions of people around the world and there are limited therapies available for treatment of vaso-occlusive pain crises, a very common complication of the disease," Bruno Strigini, head of CEO of Novartis Oncology, said in the statement.