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Home Industry News Novartis to acquire cancer drug specialist Advanced Accelerator Applications

Novartis to acquire cancer drug specialist Advanced Accelerator Applications

30th October 2017

Novartis has announced the acquisition of Advanced Accelerator Applications, a move that will strengthen the company's oncology capabilities.

The firm has signed a memorandum of understanding that will see Novartis commence a tender offer for 100 percent of the share capital of Advanced Accelerator Applications, a radiopharmaceutical company that specialises in molecular nuclear medicines.

Its product portfolio includes Lutathera, a first-in-class radioligand therapy for the treatment of neuroendocrine tumours, which has demonstrated considerable potential and has already received European regulatory approval, with a US green light still pending.

Radiopharmaceuticals such as Lutathera contain radioisotopes which are used clinically for both diagnosis and therapy, and offer numerous benefits as a new approach to treating cancer.

The acquisition will strengthen Novartis' oncology presence with near-term product launches and the addition of a new technology platform with potential applications across a number of oncology fields.

Bruno Strigini, chief executive officer of Novartis Oncology, said: "Novartis has a strong legacy in the development and commercialisation of medicines for neuroendocrine tumours where significant unmet need remains for patients."

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