Novartis in UK Biotech Deal

Swiss drugmaker Novartis unveiled one of the biggest ever deals in the European biotech sector on Wednesday, taking on an experimental treatment for smoker's lung from two British firms for up to $375 million (200 million pounds). The two British companies, Vectura and Arakis, said Novartis had agreed to develop and commercialise their AD 237 treatment for chronic obstructive pulmonary disease (COPD), more commonly known as smoker's lung.

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