Seattle Based Chinook News Today : Breaking News, Live Updates & Top Stories | Vimarsana

GENEVA, Switzerland: Raising the stakes in the race to find a treatment for rare kidney disease IgA Nephrophathy (IgAN), Swiss drug-maker Novartis announced that it has agreed to acquire US biotech firm Chinook Therapeutics for up to $3.5 billion.This week, Novartis said that under the agreed purchase, Seattle-based Chinook's shareholders could receive $3.2 billion, or $40 per share, in cash, along with a contingent value right worth up to $300...

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Novartis is acquiring Chinook Therapeutics in a $3.2 billion deal that brings two late-stage drug candidates for a rare kidney disorder. The Novartis drug pipeline already has a molecule in late-stage development for the same kidney disease, which could raise questions from antitrust regulators.