Issue Date: October 27, 2008
Novartis Will Acquire A Nektar Business
Novartis has agreed to acquire Nektar Therapeutics' pulmonary drug delivery business for $115 million in cash. The deal includes a facility in San Carlos, Calif., which employs about 140 people. Novartis says it will use Nektar technology to advance the development of drugs for diseases such as asthma and cystic fibrosis. Nektar's technology was used in Pfizer's Exubera inhaled insulin until Pfizer pulled the drug from the market last year. Nektar says it will focus on drugs that use its PEGylation and conjugate chemistry technologies.
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