HONG KONG — Novartis bolstered its portfolio of multiple sclerosis treatments on Friday by agreeing to buy an experimental drug from GlaxoSmithKline for up to $1 billion, the company said.
Novartis, the Swiss pharmaceutical giant, acquired the rights this year to use the drug, ofatumumab, to treat cancer, and sells it under the name Arzerra. This was part of a broader swap of assets completed in March, in which Novartis took over Glaxo’s cancer drugs and Glaxo took on much of Novartis’s vaccine business.
The deal announced on Friday gives Novartis all remaining rights to ofatumumab, which is being developed to treat relapsing, remitting multiple sclerosis and other autoimmune conditions.
Having the rights under one ownership would avoid the complications that could arise from having two companies selling the same drug for different uses. The deal also bolsters a portfolio of drugs Novartis is developing for multiple sclerosis, centered around its blockbuster pill Gilenya.
