Novartis’s risky punt

The Swiss drug giant is making a very expensive bet on AveXis, an American gene-therapy company. Will it be worth the risk? Alice Gråhns reports.

891-Vasant-Narasimhan-634

CEO Vasant Narasimhan deserves the benefit of the doubt

"Gene therapy is no longer a pipe dream," says Lex in the Financial Times. Want proof? Swiss drug giant Novartis has just splashed out $8.7bn of hard cash on US gene-therapy specialist AveXis. The deal is a bet that the company will deliver on its promise to treat a muscle-wasting disease known as spinal muscular atrophy by repairing a defective gene.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up

Alice grew up in Stockholm and studied at the University of the Arts London, where she gained a first-class BA in Journalism. She has written for several publications in Stockholm and London, and joined MoneyWeek in 2017.