Novartis
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 |
Strategy profile
Based on 15 disclosed transactions, Novartis concentrates its licensing activity in Oncology, Mega Deals, and Other. Novartis pays a 1.34x premium over market median, with the strongest premiums in Cardiovascular (1.50x). Their most common deal structure is Collaboration, with an average disclosed value of $2.0B. Most recent activity: 2026.
Premium by therapeutic area
How Novartis pays relative to peer medians in each TA
Pipeline coverage & gaps
Novartis has disclosed activity in 4 of 12 tracked therapeutic areas. Gaps may represent whitespace opportunities for licensors.
Deal type breakdown
How this buyer structures its transactions
| Deal type | Count | Avg upfront | Avg total value |
|---|---|---|---|
| CollaborationPrimary | 7 | $71M | $974M |
| Acquisition | 5 | $2.0B | $3.9B |
| License | 3 | $111M | $1.4B |
Recent disclosed deals
| Year | Asset | Licensor | Indication | Phase | Upfront | Total |
|---|---|---|---|---|---|---|
| 2026 | NMT inhibitor-based ADC platform | Myricx Bio | oncology | preclinical | — | $1.1B |
| 2026 | ADC payload platform | Myricx Bio | oncology | discovery | — | $1.5B |
| 2026 | undruggable cancer targets program | Antares Oncology | oncology | discovery | — | $105M |
| 2026 | undruggable cancer targets program | Antares | oncology | discovery | — | $105M |
| 2026 | multi-target oncology discovery collaboration | Antares | undruggable cancer targets | discovery | $105M | $1.9B |
| 2026 | Undruggable cancer targets program | Antares Therapeutics | cancer (undruggable targets) | discovery | — | $105M |
| 2026 | molecular glue programs | Orionis | oncology / challenging therapeutic targets | discovery | $40M | $1.4B |
| 2026 | Molecular glue degraders program | Orionis Biosciences | — | discovery | $40M | $1.4B |
| 2026 | Regulus RNA therapeutics pipeline | Regulus Therapeutics | kidney disease | unknown | — | $1.7B |
| 2026 | VAV1 degraders (MRT-6160) | Monte Rosa Therapeutics | — | unknown | — | $2.1B |
| 2026 | RNA-based programs | Avidity Biosciences | rare neuromuscular disease | unknown | — | $12.0B |
| 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 | — | Unnatural Products | cardiovascular disease | discovery | $100M | $1.8B |
| 2026 | votoplam | PTC Therapeutics | Huntington's disease | phase_2 | — | $998M |
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].