Novartis to buy Regulus for $1.7 bn

Novartis AG agreed to buy US biotech Regulus Therapeutics Inc. in a deal that could be valued at up to $1.7 billion.

- Bloomberg

The Swiss company will pay $7 a share in cash upfront through a subsidiary, equivalent to $800 million, according to a statement Wednesday.

Regulus Therapeutics shareholders will also receive a so-called contingent value right, which entitles them to a further $900 million if regulatory approval is secured for farabursen, which seeks to treat patients living with ADPKD, the most common genetic cause of renal failure.