Novartis
Pays vs peer median
×1.34
+35% premium
Sample
38
high confidence
Last refreshed
2026-04-13
By therapeutic area
| Therapeutic area | Premium | Deals |
|---|---|---|
| oncology | ×1.35 | 13 |
| cardiovascular | ×1.50 | 8 |
| rareDisease | ×1.23 | 4 |
| immunology | ×0.85 | 3 |
By stage at signing
| Phase | Premium | Deals |
|---|---|---|
| phase 1 | ×0.89 | 11 |
| preclinical | ×1.37 | 9 |
| phase 2 | ×1.50 | 7 |
| phase 3 | ×1.50 | 7 |
| approved | ×1.50 | 3 |
Recent disclosed deals
| Year | Asset | Licensor | Indication | Phase | Upfront | Total |
|---|---|---|---|---|---|---|
| 2026 | Exl-111 | Excellergy | food allergy, chronic spontaneous urticaria, allergic asthma and other IgE-driven diseases | phase_1 | — | $2.0B |
| 2026 | MOR106 | Galapagos | atopic dermatitis | unknown | $111M | $1.1B |
| 2026 | SNV4818 | Synnovation Therapeutics | HR+/HER2- breast cancer and advanced solid tumors | phase_1 | $2.0B | $3.0B |
| 2026 | SNV-4818 | Synnovation Therapeutics LLC | breast cancer | phase_1 | — | $3.0B |
| 2026 | SNV4818 | Pikavation Therapeutics | HR+/HER2- breast cancer | phase_1 | $2.0B | $3.0B |
| 2026 | MOR106 | MorphoSys | atopic dermatitis | unknown | $111M | $1.1B |
| 2026 | — | Unnatural Products | cardiovascular disease | discovery | $100M | $1.8B |
| 2026 | votoplam | PTC Therapeutics | Huntington's disease | phase_2 | — | $998M |
| 2026 | PD-1-201 | Karyopharm Therapeutics | Endometrial | phase_1 | $155M | $1.5B |
| 2026 | amyloid beta-targeted antibody program | SciNeuro | Alzheimer's Disease | preclinical | $165M | $1.7B |
| 2025 | PSMA-tinib | IGM Biosciences | Gastric | phase_2 | — | $893M |
| 2025 | alpha-synuclein siRNA | Arrowhead Pharmaceuticals | Parkinson's disease | preclinical | $200M | $2.2B |
| 2025 | Anti-SHP2-tinib | Forma Therapeutics | Gastric | phase_3 | $1.1B | $7.6B |
| 2025 | ANGPTL3 program | Argo Biopharma | dyslipidemia | phase_2 | — | $5.2B |
| 2025 | myostatin inhibition oligo platform | Avidity Biosciences | spinal muscular atrophy and Duchenne muscular dystrophy | unknown | — | $12.7B |
How this is computed
For each Novartis deal we find the median total deal value of comparable transactions (same therapeutic area + phase, falling back to TA-only with ≥3 peers). The buyer’s deal divided by the peer median is the per-deal premium. We trim outliers, take the trimmed mean, and clamp to [0.7×, 1.5×] to reject data errors. Confidence scales with sample size.
Trimmed mean of 38 disclosed deal premiums vs. peer medians. Raw premium 1.345, clamped to [0.7, 1.5].