Novartis has bought U.S. based Protez Pharmaceuticals in a deal worth up to $400 million, giving it rights to an antibiotic which could be used to fight superbugs such as MRSA, the Swiss drugmaker said.
Novartis will initially pay $100 million for privately held Protez, with a potential for up to $300 million of additional payments depending on the success of lead compound PZ-601, the company said.
Reuters
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