Novartis to buy US-based biotech firm Excellergy for up to US$2 billion

Published Fri, Mar 27, 2026 · 04:55 PM

[ZURICH] Swiss drugmaker Novartis said on Friday (Mar 27) it will buy California-based biotech company Excellergy in a deal worth up to US$2 billion, the second sizeable acquisition it has announced in as many weeks.

Under the agreement, Novartis said it would pay up to US$2 billion in upfront and milestone payments. The transaction is expected to close in the second half of 2026, subject to customary conditions, including regulatory approvals.

The transaction will strengthen Novartis’ presence in the market of immunology in food allergy, the company said. Excellergy’s food allergy drug candidate, Exl-111, could support earlier allergy symptom relief, for example.

Novartis had also last week announced its acquisition of a breast cancer drug candidate for up to US$3 billion from US biotech firm Synnovation Therapeutics.

In April last year, Novartis said it plans to invest US$23 billion to build and expand its facilities in the United States through the following half decade.

So far, the company has begun construction on R&D and manufacturing sites across four states, including California, and expanded its radioligand therapy facilities in Indiana and New Jersey. REUTERS