Novartis to Acquire Kidney Player Chinook Therapeutics for $3.2 Billion

Swiss pharmaceutical company Novartis has announced its acquisition of kidney player Chinook Therapeutics for $3.5 billion, in a bid to expand its renal drug portfolio. The deal includes an upfront cash payment of $3.2 billion and up to $300 million in contingent value rights, payable once certain regulatory milestones are achieved. The acquisition will give Novartis access to Chinook's two late..