MOU Novartis Plans to Acquire Advanced Accelerator Applications
Novartis will commence a tender offer upon completion of works council consultation and AAA’s Board of Directors recommending the tender offer to its shareholders. The deal will help the company to strengthen its oncology portfolio with both near-term product launches as well as a new technology platform.
Basel/Switzerland – Novartis has recently announced that it has entered into a Memorandum of Understanding (MOU) with Advanced Accelerator Applications (AAA) under which Novartis intends to commence a tender offer for 100 % of the share capital of AAA subject to certain conditions. Advanced Accelerator Applications is a radiopharmaceutical company that develops, produces and commercializes molecular nuclear medicines including Lutathera, a first-in-class Radio Ligand Therapy product for neuroendocrine tumours.
Radiopharmaceuticals, such as Lutathera, are unique medicinal formulations containing radioisotopes which are used clinically for both diagnosis and therapy. The transaction would strengthen Novartis’ oncology presence with both near-term product launches as well as a new technology platform with potential applications across a number of oncology early development programmes.