Novartis Acquires Tourmaline Bio in $1.4B Deal to Strengthen Cardiovascular Portfolio

Novartis (NVS) has agreed to acquire Tourmaline Bio (TRML) for $48 per share, a transaction valuing the New York-based biopharma at $1.4 billion. The deal underscores Novartis' strategic focus on expanding its cardiovascular medicine offerings, a critical growth area for the Swiss pharmaceutical giant.

Tourmaline's lead asset, pacibekitug, targets inflammation associated with atherosclerotic cardiovascular disease (ASCVD). The therapy is poised for Phase III trials and complements Novartis' existing heart condition treatments. With cardiovascular disease remaining a global health crisis, the acquisition positions Novartis to address unmet patient needs more effectively.

The boards of both companies have unanimously approved the transaction. Novartis will initiate a tender offer for all outstanding Tourmaline shares, with the deal expected to close in Q4 2025. Upon completion, Tourmaline will operate as a wholly owned subsidiary of Novartis.