Movement Alert｜Novartis Falls 3.05% in Regular Trading, $1.5 Billion Myricx Bio Acquisition Triggers Selling Pressure

Market Focus07-06

On July 6, Novartis fell 3.05% in regular trading, trading at $155.02/share, with turnover of $103 million. The decline was triggered by the company's announcement that it has agreed to acquire UK-based biotechnology firm Myricx Bio for up to $1.5 billion.

According to the company's statement, Myricx shareholders will receive $1.1 billion in upfront payments, plus up to $400 million in potential milestone payments. The deal adds Myricx's antibody-drug conjugate (ADC) pipeline to Novartis's oncology portfolio. This marks the latest in a series of aggressive M&A moves by Novartis, which previously acquired Avidity Biosciences for $12 billion in October and agreed to buy Excellergy for up to $2 billion in March, signaling an accelerating capital deployment strategy that appears to have weighed on investor sentiment.

Within the Pharmacy sector, the broader group traded lower. Among major peers, Eli Lilly fell 1.37%, Pfizer fell 2.54%, Johnson & Johnson fell 2.14%, Merck fell 2.04%, and Novo-Nordisk fell 3.21%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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