CFIUS gives Novartis, Endocyte deal a pass -- for now

A decision by CFIUS to neither clear nor initiate review of a proposed $2.1 billion acquisition of Endocyte Inc. (NASDAQ:ECYT) by Novartis AG (NYSE:NVS; SIX:NOVN) provides little clarity as to how far the committee will tread into biotech territory.

Wendy Pan, partner at Sidley Austin, told BioCentury that it's possible the Committee on Foreign Investment in the United States did not take action because it believes the technology involved in the deal falls outside its scope, but added if that was the case, the committee should have cleared the deal...