Novartis, one of the largest pharmaceutical companies announced $3.9 billion cash deal to buy France’s cancer specialist AAA (Advanced Accelerator Applications). The step has taken place to reinforce the oncology portfolio. Swiss drugmaker Novartis’ deal to offer $41 per ordinary share and dollar 82 per American depositary share shows a 47% premium to the price of France’s Advanced Accelerator Application. Basel-based Novartis is looking to add nuclear medicine specialist AAA’s radiopharmaceuticals that execute trace amounts of radioactive compounds to not only develop purposeful images of organs and lesions but also to cure big diseases like cancer.
Lutathera, a flagship product of Advanced Accelerator Applications won European Union backing in the September month for exercise against a kind of cancer called gastroenteropancreatic neuroendocrine tumours, which killed Steve Jobs, the founder of Apple Company. In a recent statement, the head of Novartis Oncology, Bruno Strigini stated that the company has been the specialist and well known for the growth and commercialization of medicines associated with neuroendocrine tumors where noteworthy unmet require remains for patients. He believes that with the flagship product of AAA ‘Lutathera’, they can continue their legacy and expand the global reach of this novel, differentiated healing approach.”
Lutathera is in the queue to get the approval of the U.S. Food and Drugs Administration for harnessing a molecule not only to treat the disease cancer but also to bring treatment by hitting the cancer cells with top energy electrons. The chief executive of France’s Advanced Accelerate Applications (AAA), Stefano Buono admitted that they have accepted the deal to support the expansion of Lutathera and to accelerate the development of its other treatments or therapies.
The CEO of AAA firmly believes that the combination of both expertise can improve the global oncology experience and the infrastructure of Swiss multinational pharmaceutical company ‘Novartis’ offer the best prospects for the patients, employees, and physicians and consequently widen the nuclear medicine community.
Saint-Genis-Pouilly-based Pharmaceutical group ‘AAA’, which was expounded from the European Organization for Nuclear Research also called CERN 15 years ago and listed on American stock exchange Nasdaq, had generated sales of $78 million by mid 2017, with a net loss from ongoing operations of $24.2 million.