Novartis has signed a $3.9 billion MOU with Advanced Accelerator Applications
It has recently been announced that radiopharmaceutical giant Advanced Accelerator Applications (AAA) has signed a Memorandum of Understanding (MOU) with Novartis.
The deal will see Novartis acquire all outstanding shares of AAA in a $3.9 billion cash transaction, with Jefferies acting as as Exclusive Financial Advisor to AAA.It represents Jefferies' 82nd healthcare advisory deal since January 2016 and 41st biotechnology M&A deal since January 2010.
AAA currently operates over 20 research and development facilities. The acquisition demonstrates the growing importance of Nuclear Medicine as a novel treatment approach in the Oncology space, and will enable AAA to advance its oncology theragnostic platform. Additionally, it will allow Novartis to further its ambitions to treat diseases, such as cancers through utilising AAA’s personalised tools and technologies.
Mr. Stefano Buono, Chief Executive Officer of AAA has said, “It is with great satisfaction that we announce this proposed transaction with Novartis, who we have long felt would be an ideal partner to enhance the launch of lutetium Lu 177 dotatate* (Lutathera) for neuroendocrine tumours (NETs).”
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“We believe that the combination of our expertise in radiopharmaceuticals and theragnostic strategy together with the global oncology experience and infrastructure of Novartis, provide the best prospects for our patients, physicians and employees, as well as the broader nuclear medicine community.”
The company recently received European approval surrounding the marketing authorisation for Lutathera in September, and is currently under review by the Food & Drug Administration.
“Novartis has a strong legacy in the development and commercialisation of medicines for neuroendocrine tumours where significant unmet need remains for patients,” commented Bruno Strigini, Head of Novartis Oncology.
The growth of Novartis in this area is in stark contrast to its generics division. The company is set to cut over 400 jobs within its Colorado manufacturing plant as a result of growing price pressures within the pharmaceutical market, against a battle to remain competitive against new and similar players.
Family doctors should give COVID vaccine, survey finds
A new survey has found that doctors believe patients would be more open to receiving the COVID-19 vaccine if it was administered by a trusted doctor.
The research by Sermo, a social media network for clinicians, was carried out among 3,329 physicians from around the world. It found that nearly 70% said that if they could administer the vaccine to reluctant patients themselves, they believe they would feel more comfortable about getting vaccinated.
Additionally, nearly half of the people surveyed said that their ability to discuss the benefits of vaccination and answer patients' questions during appointments could help increase their willingness to get vaccinated.
The survey results are released as infection rates rise among people who have not received the vaccine. In the US Dr Rochelle Walensky, director of the US Centers for Disease Control and Prevention has called the latest surge "a pandemic of the unvaccinated".
Sermo’s COVID-19 Real Time Barometer also showed 65% of physicians believe that vaccinating children is essential for long-term control of the virus. Other findings include:
* 55% of physicians say their patients are more reluctant to vaccinate their children than themselves due to fear of adverse effects
* 60% believe a one-dose vial that administered at their office during appointments would be beneficial in continuing to administer vaccinations
* 81% believe that paediatricians and family doctors are in the best position to vaccinate children
Respondents also said resources and information should be created to educate their patient base and parents about the importance of getting vaccinated.
“Our survey reveals that physicians worldwide feel strongly that they can and perhaps, should, play a very important role in driving COVID vaccination uptake,” said Peter Kirk, Sermo's CEO.
“The trust they have built with their patients, combined with the ability to counsel, answer questions, ease concerns and provide assurances could help patients overcome their hesitancy to be vaccinated. Allowing physicians to vaccinate their own patients has the potential to increase vaccine rates.”