Novartis to Acquire Tourmaline Bio in $1.4 Billion Deal

Novartis announced it will acquire Tourmaline Bio for approximately $1.4 billion, offering $48 per share, a significant premium over recent stock prices. The acquisition will provide Novartis access to pacibekitug, a promising anti-inflammatory drug candidate nearing Phase III trials for atherosclerotic cardiovascular disease. Both companies’ boards have approved the deal, and Novartis will initiate a tender offer to acquire all outstanding shares. The acquisition is expected to close in the fourth quarter of 2025, after which Tourmaline will become an indirect, wholly owned subsidiary of Novartis. The move bolsters Novartis’ growing cardiovascular disease portfolio and aligns with its broader strategic focus. Analysts see the timing as logical, given recent strong Phase 2 data for pacibekitug and Novartis’ capacity to support expensive late-stage development. The acquisition continues Novartis’ trend of engaging in acquisitions valued between $1 billion and $3 billion.