Novartis has signed a drug-delivery agreement worth up to $3.22 billion with Alteogen, aiming to convert intravenous biologic medicines into faster under-the-skin injections. The deal, which covers several potential products using Alteogen's Hybrozyme platform and ALT-B4 enzyme, is not an upfront payment; most of the money depends on achieving development, regulatory, and commercial milestones. Novartis shares slipped 0.1% to $161.05 on Wednesday, and the stock trades 23.11% above its GF Value estimate of $130.82, indicating investors are paying a premium for future execution.
ALTEOGEN IncAlteogen signs $3.22B drug-delivery deal with Novartis, potential milestone payments for its Hybrozyme platform.
Novartis AGNovartis inks $3.22B deal but shares slipped 0.1%; deal is milestone-based, not upfront, and stock trades above GF Value.
Klepierre SA
