Novartis Expands Immunotherapy Portfolio with CoStim Buy

Novartis AG announced it will acquire CoStim Pharmaceuticals Inc., expanding its reach in immunotherapeutics, a new field of cancer drugs that may reach $35 billion in annual sales.

Novartis will acquire Cambridge, Massachusetts-based CoStim, a closely held biotechnology company for an undisclosed sum. The acquisition adds several immunotherapy programs, including one that targets PD-1, a receptor that is the focus of drugs such as Bristol-Myers Squibb Co.’s nivolumab and Merck & Co.’s MK-3475. Read the full story

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