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Novartis hunting for $2-$5B acquisitions

April 24, 2015 1:50 AM UTC

After closing its $16 billion asset swap with GlaxoSmithKline plc (LSE:GSK; NYSE:GSK), Novartis AG (NYSE:NVS; SIX:NOVN) said on its 1Q15 earnings call Thursday that it is seeking bolt-on acquisitions on the order of $2-$5 billion over the next 12-18 months to strengthen its pipeline.

David Epstein, division head of Novartis Pharmaceuticals, said on the call that the company expects to launch LCZ696 in 3Q15. The dual inhibitor of angiotensin II type 2 (AT2) receptor ( ATGR2) and neutral endopeptidase ( neprilysin; MME; NEP; CD10) is under Priority Review by FDA to treat heart failure with reduced ejection fraction. ...