Endocyte insiders to reap millions from Novartis deal
Executives and directors of the West Lafayette-based biotech hold nearly 9 percent of Endocyte stock, worth about $177 million, based on the deal price of $24 a share.
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Novartis needs U.S. security nod for Endocyte under new rules
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Endocyte’s $2.1B deal with Novartis comes after years of setbacks
The West Lafayette biotech firm’s stock traded as low as $1.41 last fall, following multiple setbacks and restructurings. But the stock had soared to $24 Thursday morning after news that it would be acquired by Novartis.
Endocyte acquisition gives Novartis key therapy—at almost 200 times its last price
One year ago, Indiana-based Endocyte Inc. bought the rights to a prostate cancer treatment for $12 million, plus future considerations. On Thursday, Novartis AG agreed to pay almost 200 times that amount to acquire Endocyte and the experimental therapy.
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U.S. wants drug prices in TV ads: ‘Patients deserve to know’
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