Novartis AG reported a 22% dip in earnings for the third quarter due to charges from the voluntary withdrawal of CyPass, higher restructuring, and discontinuation of GSK consumer healthcare joint venture. The top and bottom line came in ahead of analysts’ expectations.
In a separate release, Novartis said it has agreed to buy all outstanding shares of Endocyte (ECYT) common stock for $24 per share. This offer values Endocyte’s equity at $2.1 billion.
The transaction, which will be funded through available cash, would be in the form of a merger of Endocyte and a newly formed Novartis subsidiary.
More details and the graphical representation of the results can be found at https://news.alphastreet.com/novartis-q3-2018-earnings-nvs-stock-endocyte-ecyt-merger/
In a separate release, Novartis said it has agreed to buy all outstanding shares of Endocyte (ECYT) common stock for $24 per share. This offer values Endocyte’s equity at $2.1 billion.
The transaction, which will be funded through available cash, would be in the form of a merger of Endocyte and a newly formed Novartis subsidiary.
More details and the graphical representation of the results can be found at https://news.alphastreet.com/novartis-q3-2018-earnings-nvs-stock-endocyte-ecyt-merger/