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Novartis Snaps Up Cadent For Up To $770M; Street Sees 19% Upside

Dec 17, 2020 - Nasdaq
Mergers and Acquisitions

Novartis has clinched a deal to buy neuroscience company Cadent Therapeutics for up to $770 million, to expand its treatment pipeline for cognitive and mood disorders.

As part of the transaction, Novartis (NVS) will acquire all of the outstanding capital stock of Cadent, in exchange for an upfront payment of $210 million and up to $560 million in milestone payments. Cadent and Novartis expect the deal to close during the first quarter of 2021. The acquisition adds two new clinical stage p...