Novartis AG (ADR) (NYSE:NVS) is set to buy CoStim Pharmaceuticals Inc. to beef up its cancer immunotherapy pipeline. The Switzerland-based company said in a statement Monday that it will acquire Cambridge, Massachusetts-based CoStim, a closely held biotechnology company for an undisclosed sum. $35 billion annual sales A hot field of cancer treatment known as immunotherapy may reach $35 billion in annual sales. Sensing opportunity in the hot area, recently Merck & Co., Inc. (NYSE:MRK) announced it is involved in three separate collaboration agreements for clinical trials testing the promising MK-3475 immunotherapy cancer treatment, part of a new class of immunotherapies that…
Novartis AG Snaps Up Cambridge Cancer Drug Firm
Mani
Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports