Novartis buys AveXis (2018)
Novartis agreed to pay $8.7 billion for AveXis, a biotech developing Zolgensma, a gene therapy for spinal muscular atrophy. The deal valued AveXis at a large premium to its market price.
The deal closed in May 2018, and Zolgensma won FDA approval in May 2019.
Zolgensma became one of the most expensive drugs ever, priced at $2.1 million per dose, and validated big pharma's willingness to pay up for rare-disease therapies.
Like Novartis-AveXis, Merck KGaA is paying a large premium for a single experimental rare-disease therapy with blockbuster potential.
