Novartis completes acquisition of Tourmaline Bio, delisting from Nasdaq follows
Novartis AG has completed its acquisition of Tourmaline Bio, Inc. for approximately $1.24 billion, executed through a tender offer and merger agreement. This acquisition resulted in Tourmaline Bio becoming an indirect wholly-owned subsidiary of Novartis and its subsequent delisting from the Nasdaq Global Select Market. Following the acquisition, several analyst firms downgraded Tourmaline Bio's stock to reflect the acquisition terms.
Novartis completes acquisition of Tourmaline Bio
Novartis has successfully completed its acquisition of Tourmaline Bio, making Tourmaline an indirect wholly owned subsidiary. The acquisition, finalized on October 28, 2025, aligns with Novartis's strategy to enhance its expertise in cardiovascular innovation, particularly focusing on Tourmaline's pacibekitug and its anti-IL-6 mechanism for atherosclerotic cardiovascular disease.
Wall Street Analysts Predict a 151% Upside in Tourmaline Bio, Inc. (TRML): Here's What You Should Know
Wall Street analysts project a 151% upside for Tourmaline Bio, Inc. (TRML), with a mean price target of $56.2 from its current $22.39. While price targets can be overly optimistic, a low standard deviation in estimates and a positive trend in earnings estimate revisions, coupled with a Zacks Rank #2 (Buy), suggest potential for near-term growth. Investors are advised to use price targets with skepticism but consider the consistent upward revision of EPS estimates as a legitimate positive indicator.
Novartis Buys Tourmaline Bio, Setting Up Showdown With Novo Nordisk
Novartis is acquiring Tourmaline Bio for $1.4 billion to obtain pacibekitug, an IL-6 inhibitor for cardiovascular disease. This acquisition positions Novartis in direct competition with Novo Nordisk's ziltivekimab in the atherosclerotic cardiovascular disease market. Novartis is paying $48 per share, representing a nearly 60% premium to Tourmaline's last closing price.
Novartis announces commencement of tender offer to acquire Tourmaline Bio
Novartis has commenced a tender offer to acquire all outstanding shares of Tourmaline Bio, Inc. for $48 per share in cash. The tender offer is being made by Torino Merger Sub Inc., an indirect wholly owned subsidiary of Novartis, and is set to expire on October 27, 2025, unless extended. The offer is subject to customary conditions, including a majority of shares being tendered and regulatory approvals, and has been recommended by Tourmaline's board of directors.
Tourmaline Bio stock hits 52-week high at 47.8 USD
The article reports that Tourmaline Bio's stock reached a 52-week high of $47.8 USD. However, due to an application error on the website, the full article content providing details about this event is unavailable.
Novartis to gain heart drug in $1.4B deal for Tourmaline Bio
Novartis is set to acquire Tourmaline Bio in a $1.4 billion deal, primarily for its anti-inflammatory drug pacibekitug, which is intended for atherosclerotic cardiovascular disease. The acquisition will allow Novartis to advance pacibekitug into Phase 3 testing, despite potential competition from Novo Nordisk's rival IL-6 inhibitor. The deal represents a 59% premium to Tourmaline's stock and is expected to close in the fourth quarter of this year.
Novartis AG Buys Tourmaline Bio in $1.4B Deal
Novartis AG has entered into a definitive merger agreement to acquire Tourmaline Bio, a biotechnology company focused on inflammatory and immune diseases, for $1.4 billion. The acquisition, priced at $48 per share in cash, centers on Tourmaline's anti-IL-6 monoclonal antibody, pacibekitug, which shows promise in reducing inflammatory risk in atherosclerotic cardiovascular disease. The deal, unanimously approved by both Boards, is expected to close in Q4 2025.
Novartis to Acquire Tourmaline Bio in $1.4 Billion Deal
Novartis announced its intention to acquire Tourmaline Bio in a $1.4 billion deal to strengthen its cardiovascular disease portfolio. The acquisition will see the Swiss drugmaker pay $48 per share for Tourmaline Bio, which is developing a Phase III-ready targeted therapy for atherosclerotic cardiovascular disease. The deal is expected to close in the fourth quarter of 2025.
Novartis to Buy US Biotech Tourmaline Bio for $1.4 Billion
Novartis has announced its intention to acquire the US biotech company Tourmaline Bio for $1.4 billion. This strategic acquisition aims to bolster Novartis's pipeline, likely focusing on specific therapeutic areas that Tourmaline Bio specializes in. The deal reflects ongoing consolidation in the pharmaceutical and biotech sectors as larger companies seek to integrate promising smaller firms.
Novartis to Acquire Tourmaline Bio for $1.4 Billion
Novartis has announced its agreement to acquire Tourmaline Bio Inc. for approximately $1.4 billion. The acquisition includes pacibekitug, a Phase 3-ready asset, an anti-IL-6 mAb intended to treat atherosclerotic cardiovascular disease, which will complement Novartis's existing cardiovascular disease portfolio. This move aims to address residual inflammatory risk in ASCVD, leveraging pacibekitug’s demonstrated ability to reduce high-sensitivity C-reactive protein levels.
Novartis spends $1.4B for Tourmaline and cardiovascular med that impressed in phase 2
Novartis is acquiring Tourmaline Bio for $1.4 billion, primarily for its cardiovascular drug pacibekitug, which showed impressive results in a phase 2 study. Pacibekitug, an antibody targeting interleukin-6, significantly reduced C-reactive protein levels, a biomarker for cardiovascular disease risk, in patients with chronic kidney disease. This acquisition aims to address residual inflammatory risk in atherosclerotic cardiovascular disease, diversifying Novartis's cardiovascular portfolio.
Novartis Inks $1.4 Billion Deal. Why It Just 'Makes Sense.'
Novartis has acquired Tourmaline Bio for $1.4 billion, a move that follows Tourmaline's promising trial results for its atherosclerotic cardiovascular disease drug, pacibekitug. The acquisition aims to enhance Novartis's cardiovascular pipeline, capitalizing on Tourmaline's successful clinical data presented at a recent European Society of Cardiology event. This deal highlights the growing interest in innovative treatments for cardiovascular diseases within the biotech sector.
Novartis Agrees to Buy Tourmaline Bio in $1.4 Billion Deal
Novartis has agreed to acquire Tourmaline Bio for approximately $1.4 billion, paying $48 per share to enhance its cardiovascular drug pipeline. The deal will provide Novartis with access to the targeted therapy drug pacibekitug and has been approved by Tourmaline's board.
This Biopharma Stock Is Soaring 58%. Novartis Is Acquiring It.
Novartis has announced its intention to acquire Tourmaline Bio Inc., a clinical-stage biopharmaceutical maker, in an all-cash deal valued at approximately $1.4 billion. Following this news, Tourmaline Bio's stock experienced a significant surge, soaring by 58%. This acquisition highlights Novartis's strategic expansion in the biopharma sector.
Novartis to Buy US Biotech Tourmaline Bio for $1.4 Billion
Novartis has announced its intention to acquire the US biotech company Tourmaline Bio for $1.4 billion. This acquisition is part of Novartis's strategy to expand its pipeline, particularly in the biotechnology sector. The deal is expected to strengthen Novartis's position in developing new treatments.
Shareholder Alert: The Ademi Firm investigates whether Tourmaline Bio, Inc. is obtaining a Fair Price for its Public Shareholders
The Ademi Firm is investigating Tourmaline Bio, Inc. (NASDAQ: TRML) concerning its transaction with Novartis, where shareholders will receive $48.00 per share in cash. The investigation focuses on potential breaches of fiduciary duty by Tourmaline's board, especially given the substantial benefits for insiders and restrictions on competing bids. Shareholders are encouraged to contact the firm to learn more about the investigation.
Wall Street Analysts Predict a 151% Upside in Tourmaline Bio, Inc. (TRML): Here's What You Should Know
Wall Street analysts are predicting a 151% upside for Tourmaline Bio, Inc. (TRML), with a mean price target of $56.2 and a low standard deviation indicating strong agreement. This optimistic outlook is further supported by analysts' upward revisions of earnings estimates, suggesting potential for near-term stock price growth. Investors should, however, maintain skepticism regarding price targets alone and consider them a starting point for further research.
Tourmaline Bio CEO buys $26.4k of company stock
Tourmaline Bio CEO Kulkarni Sandeep Chidambar purchased 1,779 shares of company stock for approximately $26,418, signaling confidence in the biotechnology firm's future. This transaction increased the CEO's indirect holdings to 7,000 shares through Gilead Capital, LP. The company has also recently appointed a new CFO and initiated a Phase 2 clinical trial for its drug candidate TOUR006.
Thyroid Eye Disease Market to Accelerate Substantially by 2034, Assesses DelveInsight | Key Companies Developing Therapies - Viridian Therapeutics, Roche, Immunovant, Amgen, Sling Therapeutics, ACELYRIN, Tourmaline Bio
The Thyroid Eye Disease (TED) market is projected for substantial growth by 2034, driven by new product launches, a robust pipeline of emerging therapies, and an aging population. Key companies like Viridian Therapeutics, Roche, Immunovant, Amgen, and others are actively developing innovative treatments. The market, estimated at $2.5 billion in 2023 for the 7MM, is expected to see significant changes with the introduction of novel therapies and improved diagnostic awareness.
Foley Represents TCGX as Investor in Tourmaline Bio, Concurrent with Merger with Talaris Therapeutics
Foley & Lardner LLP represented TCGX as an investor in a $75 million private placement for Tourmaline Bio, which occurred concurrently with Tourmaline's merger with Talaris Therapeutics. The combined company now operates as Tourmaline Bio, Inc. and began trading on the Nasdaq Global Market under the ticker symbol "TRML" on October 20, 2023. TCGX is an investment firm focused on pre-IPO and public drug discovery companies.
Tourmaline Bio to Present at Upcoming Investor Conferences
Tourmaline Bio, Inc. announced that its CEO, Sandeep Kulkarni, will participate in several investor conferences in November. These include the Guggenheim Healthcare 5th Annual I&I Conference, Truist Securities BioPharma Symposium, Jefferies London Healthcare Conference, and Piper Sandler 35th Annual Healthcare Conference. The company, a late-stage clinical biotechnology firm, focuses on developing medicines for immune diseases with its lead program, TOUR006.
Talaris Therapeutics Announces Stockholder Approval of Merger with Tourmaline Bio
Talaris Therapeutics announced stockholder approval for its merger with Tourmaline Bio, which is anticipated to close around October 19, 2023. Following the merger, the combined company will operate under the name Tourmaline Bio and trade on Nasdaq under the ticker "TRML," focusing on developing transformative medicines for immune diseases. Talaris also announced a 1-for-10 reverse stock split effective October 19, 2023, prior to the merger, which will adjust the number of outstanding shares and the special cash dividend per share.
