Novartis to Buy Nektar's Pulmonary Business

Novartis ( NVS) has agreed to acquire Nektar Therapeutics' ( NKTR) pulmonary business for $115 million in cash.

The Swiss drug maker will assume ownership of certain dry powder and liquid pulmonary formulation and manufacturing assets. The agreement also transfers to Novartis about 140 Nektar personnel.

The transaction excludes Nektar's inhalation programs for insulin, vancomycin, ciprofloxacin and amikacin, Novartis said in a press release Tuesday.

The deal is expected to be completed on Dec. 31.

More from Stocks

Trump's 'Space Force' Could Launch a $1 Trillion Industry, Morgan Stanley Says

Trump's 'Space Force' Could Launch a $1 Trillion Industry, Morgan Stanley Says

Abiomed Stock Should Rise Some 12% From Here, Piper Jaffray Analyst Says

Abiomed Stock Should Rise Some 12% From Here, Piper Jaffray Analyst Says

Video: Here Is Why Carvana Isn't Worried About Amazon

Video: Here Is Why Carvana Isn't Worried About Amazon

Video: What Oprah's Content Partnership With Apple Means for the Rest of Tech

Video: What Oprah's Content Partnership With Apple Means for the Rest of Tech

REPLAY: Jim Cramer on the Markets, Oil, Starbucks, Tesla, Okta and Red Hat

REPLAY: Jim Cramer on the Markets, Oil, Starbucks, Tesla, Okta and Red Hat