Swiss drug maker Novartis to acquire AveXis for $8.7b

Swiss drug maker Novartis to acquire AveXis for $8.7b

A Novartis logo is pictured on its headquarters building in Mumbai April 1, 2013. REUTERS/Vivek Prakash/File Photo

Novartis AG agreed to acquire AveXis Inc. for $8.7 billion to gain a promising drug to treat a rare disease that afflicts infants, hastening a shift toward gene therapy and precision medicines.

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