Swiss pharmaceutical giant Novartis announced Friday its plans to purchase California-based biotechnology company Excellergy in a transaction valued at up to $2 billion.
The pharmaceutical company stated it will provide the full amount through initial payments and performance-based milestones. Novartis expects the deal to finalize during the latter half of 2026, pending standard regulatory clearances and other typical closing conditions.
According to Novartis, this acquisition will enhance the company’s position within the immunology sector, specifically targeting food allergy treatments.
This purchase follows Novartis’ announcement just one week earlier regarding its acquisition of a breast cancer treatment candidate from American biotech company Synnovation Therapeutics, a deal valued at up to $3 billion.
