Novartis Eyes Up to $1.5 Billion for Gene Therapy Firm
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The prize Novartis has its eyes on is, well, eyes.
The Swiss healthcare giant announced Wednesday it's buying British biotech Gyroscope Therapeutics, adding to a growing portfolio of gene therapies for eye diseases. Novartis agreed to immediately pay $800 million, but could owe additional payments up to $700 million if Gyroscope meets agreed upon targets. Either way, one of the world's biggest healthcare firms is positioned for a full court press to beat vision loss.
Source Fool.com
