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Novartis to buy Advanced Accelerator Applications laboratory

The Swiss pharmaceutical giant Nobartis announced on Monday an offer to buy the French laboratory of radiopharmacy Advanced Accelerator Applications (AAA), strengthening its activities in oncology.

The Swiss group has signed a memorandum of understanding to offer to buy 100% of the capital of this company listed on the Nasdaq, offering 41 dollars per share, said Novartis, adding that this offer valued the company 3,9 billion dollars (3,3 Billions of Euro's).

Based in Saint-Genis-Pouilly, Ain, on the border with Switzerland, AAA develops and produces drugs in molecular nuclear medicine, including a treatment called Lutathera for neuroendocrine tumors.

This treatment was approved in Europe in September 2017 for some forms of tumors and is currently being examined by US health authorities.

The transaction, approved by AAA's board of directors, will be financed by short-term and long-term debt.

Created in 2002 by Stefano Buono, AAA had generated in 2016 a turnover of 109 millions of euros.

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