Novartis makes acquisition to broaden hematology pipeline

Swiss pharma giant Novartis (NOVN: VX), which has recently been rumored to be on the acquisition trail for AstraZeneca (LSE: AZN) - which rejected a $69 billion bid from Pfizer in 2014, today announced something far less ambitious with the takeover of a small US pharma company.

Novartis has exercized its option to acquire Selexys Pharmaceuticals Corp, a company specializing in the development of therapeutics in certain hematologic and inflammatory disorders.

Its decision follows receipt of results of the SUSTAIN study, a Phase II trial evaluating the use of SelG1, an anti-P-selectin antibody, in the reduction of vaso-occlusive pain crises in patients with sickle cell disease (SCD), a hereditary blood disorder characterized by sickle-shaped red blood cells. Results from the study will be presented during the Plenary Scientific Session at the 58thAmerican Society of Hematology (ASH) Annual Meeting on December 4, 2016, in San Diego, California.