Novartis Expands Immunotherapy Portfolio with CoStim Buy

Feb 18, 2014

Bloomberg

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