Is this Novartis‘ next blockbuster? The Swiss company has acquired GlaxoSmithKline‘s (GSK) immunosuppressive antibody Ofatumumab for up to $1Bn. The new drug allows Novartis to enter the multiple sclerosis market for the third time.
Earlier this year, Novartis purchased GSK’s oncology portfolio for $16 billion (€14Bn), including the fully human monoclonal anitbody Ofatumumab, which is already on the market for the treatment of leukemia.
Today, the Swiss giant announced that it will also buy all the remaining indications for this drug, with a special focus on multiple sclerosis in mind. On that account, Novartis will pay $300 million (€266M) upfront, $200 million (€178M) to start a phase III and further $534 million (€473M) milestone payments are waiting for GSK during its way to the market. In any future sales, the latter would receive 12% of royalties.
How does the drug work?
Patients suffering from relapsing remitting multiple sclerosis frequently experience inflammatory attacks that damage the brain and its neurological functions.