With $9.7 billion acquisition, Novartis bets that heart drugs are coming back
Novartis’ $9.7 billion acquisition of The Medicines Company, which the companies announced Sunday after days of rumors, is a story of second acts.
It represents a new chance for a type of cholesterol-lowering drug that was once predicted to generate many billions of dollars in annual sales, but has so far disappointed drug makers and investors, to dominate the landscape for heart medicines. It’s also a triumphant final act for Clive Meanwell, who founded The Medicines Company in 1996 and ran it through a quarter-century roller-coaster ride that saw the firm become a Wall Street darling, fall from favor, and, in the past year, reach new highs. And it’s a second act for The Medicines Company’s current CEO, who previously spent almost four years as the chief executive of Purdue Pharma, the
