Novartis buys additional 51.7% stake in Speedel and announces plans to acquire remaining shares in a mandatory public tender offer

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  • Novartis and Speedel have a long-standing collaboration based on financial support for Speedel creation in 1998 and development of Tekturna/Rasilez
  • Speedel pipeline provides access to many R&D projects targeting cardiovascular disease, including a range of direct renin inhibitors
  • Ownership of Speedel provides greater flexibility and speed in development of Tekturna/Rasilez and also ends royalty and manufacturing fee payments
  • After acquiring a 51.7% stake directly from major Speedel shareholders for CHF 130 per share in cash, Novartis now holds 61.4% of Speedel
  • Novartis will commence a mandatory tender offer to acquire the remaining Speedel shares at the same price