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Benzinga
Benzinga
Business
Vandana Singh

Novartis To Expand Heart Drug Portfolio With $1.4 Billion Tourmaline Bio Acquisition

Novartis Novartis AG NVS Disease
Novartis

Tourmaline Bio, Inc. (NASDAQ:TRML) shares surged Tuesday after Novartis AG (NYSE:NVS) announced a $1.4 billion acquisition of the U.S.-based biotech, strengthening the Swiss drugmaker’s pipeline of cardiovascular and kidney treatments.

Novartis will pay $48.00 per share in cash at closing, a 59% premium to Tourmaline’s September 8 closing price and 127% above its 60-day volume-weighted average. The deal is expected to close in the fourth quarter of 2025.

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