Home Industry Healthcare Novartis agrees to buy Chinook for up to $3.5bn The Swiss drug company will pay $40 a share in cash for California-based Chinook by Bloomberg June 12, 2023 Image: Getty Images Novartis AG agreed to buy Chinook Therapeutics for as much as $3.5bn to add two promising treatments for a rare kidney disease that are currently in late-stage trials. The Swiss drug company will pay $40 a share in cash for California-based Chinook, or 67 per cent above the closing price on Friday, according to a statement Monday. Another $4 a share could be paid later based on achieving certain regulatory milestones. Chinook has two treatments in late-stage trials to treat IgAN, a progressive, rare kidney disease that mostly affects young adults and currently lacks targeted treatment options. Read: UAE’s Aster, Novartis sign MoU to advance digital transformation, clinical research Tags Healthcare Novartis 0 Comments You might also like PureHealth’s IPO attracts Dhs265bn in orders UAE’s Purehealth seeks to raise Dhs3.62bn from IPO Saudi Arabia’s Avalon Pharma sets eyes on global expansion Abu Dhabi-based PureHealth announces intention to list on ADX