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Licensing In Brief

This article was originally published in Pharmaceutical Approvals Monthly

Executive Summary

Chiron deal offers Novartis vaccine entry: Chiron's Sept. 5 rejection of a $4.5 bil. Novartis cash takeover proposal could lead to a sweetened bid for the company. Novartis, which has owned a 42% stake in Chiron since 1995, would gain rapid entry into the global vaccine market by acquiring the firm's remaining shares. Chiron offers influenza, meningococcal, travel, pediatric and other vaccines (1see related brief). The proposed deal also would give Novartis anti-cancer and anti-infective molecules to complement its existing oncologic portfolio and infectious disease pipeline. Chiron's anti-infective portfolio includes tifacogin, in late-stage development, and certain ex-U.S. rights to Cubist's Cubicin (daptomycin). Chiron markets Proleukin (aldesleukin) for metastatic melanoma and metastatic renal cell cancer. Under the acquisition proposal, announced Sept. 1, Novartis offered $40 per Chiron share - a modest 9.8% premium to its Aug. 31 closing price of $36.44...

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