Novartis to acquire Spinifex, continue pain drug development

Novartis is to acquire Spinifex Pharmaceuticals, a company focused on the development of new drugs for treating chronic pain. Spinifex Pharmaceuticals, Inc. and its Australian subsidiary Spinifex Pharmaceuticals Pty Ltd, has announced agreement to the sale of Spinifex to Novartis International AG for an upfront cash consideration of US$200 million plus significant further development and