Novartis and Anthos Therapeutics, Inc.
Type: Acquisition agreement
Buyer: Novartis
Seller: Anthos Therapeutics, Inc.
Focus: Abelacimab
Deal value: $3.1 billion
Financial impact: Novartis’ acquisition of Anthos Therapeutics strengthens its cardiovascular pipeline with abelacimab, a promising late-stage anticoagulant, reinforcing its shift toward high-value, innovation-driven growth.
Blackstone Life Sciences and Anthos Therapeutics, a clinical-stage biopharmaceutical company focused on innovative treatments for cardiometabolic diseases, announced the completion of Novartis’ acquisition of Anthos in a deal valued at up to $3.1 billion. Anthos Therapeutics was established in 2019 through a partnership between Blackstone Life Sciences and Novartis, with Anthos receiving exclusive global rights to develop, manufacture, and commercialize abelacimab, a novel Factor XI inhibitor originally discovered at Novartis. Abelacimab is currently in Phase 3 clinical trials for multiple indications, including stroke and systemic embolism prevention in patients with atrial fibrillation (LILAC-TIMI 76), as well as cancer-associated thrombosis (ASTER and MAGNOLIA trials). Results from these studies are anticipated in the second half of 2026.
Abelacimab
Abelacimab (formerly MAA 868) is a fully human monoclonal antibody that acts as a dual inhibitor of Factor XI and its activated form, Factor XIa. Developed by Anthos Therapeutics, under license from Novartis, the therapy is being investigated for the prevention of cardiovascular conditions such as stroke caused by thrombosis and thromboembolism in patients with atrial fibrillation. Abelacimab binds with high affinity to both the zymogen and active enzyme forms of Factor XI, effectively lowering its levels. By selectively targeting the active domain of Factor XI, it enables anticoagulation while preserving normal hemostasis, offering a potentially safer alternative to conventional blood thinners.
Five years’ market revenue of Novartis
Novartis experienced consistent revenue growth through 2021, driven by its innovative medicine portfolio and global market presence. However, the company’s revenue figures saw a notable decline following the 2023 spin-off of its generics division, Sandoz, which had previously contributed significantly to overall earnings. This structural change, combined with intensified generic competition and ongoing pricing pressures, particularly in the U.S., has impacted short-term revenue performance.
Five years market revenue of Novartis (2020-2024)
Fig 18: Market revenue of Novartis
Market Impact of This Partnership
Novartis has reinforced its focus on high-value, innovative medicines, exemplified by its recent acquisition of Anthos Therapeutics. This strategic move is expected to enhance Novartis’ long-term revenue trajectory. Central to the deal is abelacimab, Anthos’ late-stage Factor XI/XIa inhibitor, which holds strong potential in the prevention of thromboembolic events, including stroke in atrial fibrillation patients. With Phase 3 trials underway and data expected in 2026, abelacimab could become a key asset in Novartis’ cardiovascular pipeline.
The acquisition also includes potential milestone and royalty-based payments tied to regulatory approvals and commercial performance, adding further upside to Novartis’ growth strategy. Overall, the Anthos deal represents a targeted investment in a high-impact therapeutic area, aiming to offset recent revenue headwinds and support Novartis' transition toward a more innovation-driven portfolio.
“Novartis’ acquisition of Anthos Therapeutics, centered on the potential of abelacimab, strengthens its innovation-driven portfolio and long-term revenue growth, with key cardiovascular assets and milestone opportunities ahead.”