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Novartis to acquire Tourmaline Bio for $1.4B
Novartis is making a big move by buying Tourmaline Bio, a New York biotech company focused on heart-related inflammation treatments, for $1.4 billion.
The offer comes in at $48 per share—about 60% more than Tourmaline's closing price of $30 on Monday.
Novartis's big biotech bet
This deal is part of Novartis's plan to stay ahead as some of its top drugs, like Entresto, face new competition from generics.
After the news broke, Tourmaline's stock jumped 57%, while Novartis shares dipped a bit.
It also follows their recent buyout of Regulus Therapeutics earlier this year for up to $1.7 billion—showing Novartis is betting big on fresh biotech ideas to keep growing beyond 2025.