Novartis Takes Exclusive Option to Develop Transgene's Cancer Vaccine (NVS)
Wednesday, March 10, 2010 - 08:06
Written on Wed, 03/10/2010 - 8:06am
By Chip Brian

3/10/2010-Shares of Novartis (NYSE:NVS) are trading 0.3% lower to $54.46 Tuesday after Reuters reported that it has taken an exclusive option to develop Transgene's cancer vaccine TG4010.
Transgene could be in line for milestones payments of up to 700 million euros ($950 million), in addition to a non-refundable $10 million option fee.
Before exercising its option, Novartis wants to see the outcome of a mid-stage Phase IIb clinical trial, due sometime in 2012.

Keywords: Novartis Cancer vaccine transgene option Stock smartrend

Ticker(s): NVS

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