Novartis takes new route in €7bn deal

Novartis, the Swiss drugmaker which employs 1,600 people in Ireland, has agreed to acquire AveXis for $8.7bn (€7.1bn) to gain a promising drug to treat a rare disease that afflicts infants, hastening a shift towards gene therapy and precision medicines.

In Europe, Novartis employs 600 people at a plant in Ringaskiddy in Cork making ingredients for its cancer, respiratory and skin disease drugs, and has 350 workers at its Alcon subsidiary in Cork city where it makes eye care products.