Day Traders Tag icon

×
Siemens Healthineers agreed to acquire Novartis AG’s (NYSE:NVS) diagnostics arm for $223.5 million (200 million euros) in a deal meant to enhance its cancer treatments. Both companies confirmed the acquisition, and it involved Advanced Accelerator Applications, a division Novartis purchased in 2017. The Financial Times reported that Advanced Accelerator Applications operates Europe's second-largest network of cyclotrons. The unit produces radioactive compounds essential for positron emission tomography (PET) scans that detect cancer and other diseases. Also Read: Judge Rules Against Novartis’ Effort To Halt Generic Launch Of Its Top-Selling Heart Disease Drug. The deal will expand Siemens Healthineers’ PET radiopharmaceuticals business—the world's largest—into Europe, strengthening its leading position in the ...


In The news