Novartis is looking to acquire Parsippany, N.J.-based drugmaker Medicines Co., people familiar with the matter told Bloomberg.
Novartis is reportedly in talks with Medicines Co. about a potential buyout, although there's no guarantee a deal will be reached.
Medicines Co. is developing an injectable drug, called inclisiran, that showed in a late-stage study that it cut bad cholesterol in half over 18 months. The drug would fit in with Novartis' rapidly growing heart failure drug, Entresto.
Shares of Medicines Co. more than tripled this year, leaving the drugmaker with a market value of about $4.7 billion, according to Bloomberg.
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