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ARTICLE | Company News

Nektar, Novartis deal

October 27, 2008 7:00 AM UTC

Novartis will acquire assets from the pulmonary drug delivery business of Nektar for $115 million in cash. The deal includes Nektar's dry powder and liquid pulmonary delivery technologies and manufacturing assets, plus all manufacturing and royalty rights to the tobramycin inhalation powder (TIP) program that is already partnered with Novartis. The TIP program is in Phase III testing to treat lung infections in cystic fibrosis (CF) patients. About 140 Nektar employees will transfer to Novartis. The deal is expected to close by year end, ...