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Novartis giving $1.6 billion to get access to two cardio drugs

Staff Writer | January 6, 2017
Novartis has agreed to pay up to $1.6 billion to Ionis Pharmaceuticals and its unit Akcea Therapeutics for the rights to two cardiovascular drugs.
Pharma industry   Ionis Pharmaceuticals and Akcea Therapeutics
The deal involves an upfront payment to Iona and Akcea of $75 million plus a $100 million equity investment in Iona.

Novartis has also agreed to invest a further $50 million in either Ionis or Akcea within 18 months, as well as payments worth up to $1.4 billion should the drugs prove successful.

Both drugs aim to lower the level of cholesterol-carrying proteins in the blood and reduce the risk of certain cardiovascular diseases developing.