Novartis to acquire Chinook Therapeutics for $3.5 billion
Novartis, the Swiss pharmaceutical giant, has announced its agreement to acquire Chinook Therapeutics, a biotech firm based in Seattle, in a deal valued at up to $3.5 billion. The acquisition aims to bolster Novartis’ late-stage drug development pipeline by adding a promising new treatment for a rare and severe kidney disease. The transaction will take…