Novartis pays up to $1 billion for all remaining rights to GSK's ofatumumab
UK pharma major GlaxoSmithKline (LSE: GSK) has reached an agreement with a unit of Swiss peer Novartis (NOVN: VX) to divest its rights in ofatumumab for auto-immune indications, including multiple sclerosis.
Novartis Pharma previously acquired the oncology indications for ofatumumab as part of the major three-part $20 billion transaction between GSK and Novartis that completed earlier this year. After completion of the transaction announced today, Novartis Pharma will own rights to all indications for ofatumumab, which it already markets under the brand name Arzerra as a cancer treatment.
Financial terms
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