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Anti-Infectives
Nektar Sells Pulmonary Business to Novartis for $115 Million and Nektar Retains Key Pulmonary Programs Including Amikacin Inhale, Inhaled Vancomycin, and Ciprofloxacin Inhalation Powder
November 8th, 2008
(11:00 PM PT, Oct. 20) -- Nektar Therapeutics (NASDAQ:NKTR) announced that Novartis AG has agreed to acquire from Nektar specific pulmonary delivery assets, technology, and intellectual property for $115 million in cash. "This agreement will allow us to focus our efforts on the development of novel therapeutics using our PEGylation and conjugate chemistry-based drug development platforms," said Nektar President and CEO Howard W. Robin. "The transaction also strengthens our balance sheet and significantly reduces expenses. It is a perfect example of our ability to monetize assets that had little future value for Nektar." Novartis will assume ownership...
Source: Law & Health Weekly (2008-11-08)
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