We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.
Accept
  • SKIP TO CONTENT
  • SKIP NAVIGATION
  • Drug & Device Products
    • FDAnews Books Library
    • Events
    • Form 483s Database
    • Publications
    • Webinar Training Pass
    • eCFR and Guidances
    • Books
  • Clinical Products
  • Advertising
  • White Papers
  • Contact Us
  • About Us
  • COVID-19
  • Sign In
  • Create Account
  • Sign Out
  • My Account
Home » NOVARTIS TO BUY NEUTEC FOR $570 MILLION

NOVARTIS TO BUY NEUTEC FOR $570 MILLION

June 7, 2006

Swiss drugmaker Novartis will acquire NeuTec Pharma, a UK-based pharmaceutical company that specializes in the development of genetically recombinant antibodies, for $570 million in cash, the company reported.

"Our proposed acquisition of NeuTec exemplifies our commitment to innovative medicines for severely ill patients," Novartis Chief Executive and Chairman Daniel Vasella said in a statement.

NeuTec currently has two medicines in clinical development. Mycograb, used with antifungals to treat candida infections, is scheduled for submission to U.S. health authorities in 2009. Aurograb, used with antibacterials to treat staph infections, will be submitted in 2010.

"In clinical trials, Mycograb has been shown to significantly lower the mortality of patients with severe fungal infections," Vasella said. "Both Mycograb and Aurograb promise to dramatically improve the treatment possibilities in this area, and will also enable Novartis to strengthen its biologics pipeline and anti-infective drug portfolio."

KEYWORDS Daily International Pharma Alert

Upcoming Events

  • 13Jul

    FDA Ad and Promo Enforcement Trends: Past, Present and Future

  • 28Jul

    EU-MDR’s Growing Pains: Are You Current with the Latest Developments?

  • 28Jul

    Is Your Product a Drug or Device — and Does It Matter?: A Recent Appeals Court Decision Says It Does

  • 02Aug

    Medical Device Cybersecurity: Understand the Latest Developments

  • 03Aug

    Pharmaceutical Process Validation: Best Practices for Success

  • 10Aug

    Gene & Cell Therapy Regulation: Comparability and Other New Developments

Featured Products

  • FDA’s New Quality System Regulation: Transitioning from QSR to ISO 13485

    FDA’s New Quality System Regulation: Transitioning from QSR to ISO 13485

  • Selecting and Implementing Electronic Document Management Systems in the EU

    Selecting and Implementing Electronic Document Management Systems in the EU

Featured Stories

  • FDA Provides Update on GE Healthcare’s Recall of Its Carescape R860 Ventilators

  • Gilead Resubmits NDA for Lenacapavir Following Complete Response Letter

  • FDA Warns Baby Neck Floats Used in Water Therapy Can Cause Death or Injury

  • U.S. Government Inks $3.2 Billion Contract With Pfizer-BioNTech for Vaccine Booster Campaign

The Revised ICH E8: A Guide to New Clinical Trial Requirements

Learn More
  • Drug Products
    • Quality
    • Regulatory Affairs
    • GMPs
    • Inspections and Audits
    • Postmarket Safety
    • Submissions and Approvals
    • Research and Development
    • Commercial Operations
  • Device Products
    • Quality
    • Regulatory Affairs
    • QSR
    • Inspections and Audits
    • Postmarket Safety
    • Submissions and Approvals
    • Research and Development
    • Commercial Operations
  • Clinical Products
    • Trial Design
    • Data Integrity
    • GCP
    • Inspections and Audits
    • Transparency
  • Privacy Policy
  • Do Not Sell My Personal Information
Footer Logo

300 N. Washington St., Suite 200, Falls Church, VA 22046, USA

Phone 703.538.7600 – Toll free 888.838.5578

Copyright © 2022. All Rights Reserved. Design, CMS, Hosting & Web Development :: ePublishing