Novartis has reached a deal to buy cholesterol-drug maker The Medicines Co. for $9.7 billion.
Novartis will pay $85 per share for the New Jersey biotech that focuses on researching treatments for cardiovascular disease, specifically ways to lower "bad" cholesterol. The Medicines Co is in late-stage studies of a drug, inclisiran.
The deal is expected to close early next year.
Read the press release