Novartis is to pay $3.2 billion upfront to acquire Chinook Therapeutics Inc of Seattle, Washington, US, in a bid to strengthen its renal portfolio with two Phase 3 assets for immunoglobulin A nephropathy (IgAN), a rare, progressive kidney disease. The transaction, which has been approved by the boards of both companies, is expected to close in the second half of 2023. It will take the form of a merger of Chinook into a newly formed Novartis subsidiary.
