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Novartis Acquires Blackstone’s Anthos Therapeutics For Up To $3.1 Billion To Strengthen Cardiovascular Portfolio

by THEFUTURE.TEAM

February 11, 2025

Swiss pharmaceutical giant Novartis has struck a deal to acquire Anthos Therapeutics, a biopharma company majority-owned by Blackstone’s drug development arm, for up to $3.1 billion. The acquisition is aimed at bolstering Novartis’ presence in the cardiovascular sector, a key focus for the company as its blockbuster heart failure drug Entresto faces patent expiration this year.

Founded in 2019 by Blackstone’s Life Sciences division and Novartis, Anthos was created to develop abelacimab, a promising treatment designed to prevent strokes and prevent recurring blood clots. This transaction underscores Novartis’ commitment to cardiovascular treatments, which is one of five critical therapeutic areas the company is prioritizing.

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The deal, which is expected to close by mid-2025, marks a significant step in the evolving partnership between a major pharmaceutical company and private equity, a model that has gained traction in the industry. Novartis will pay an initial $925 million, with potential additional payments up to $2.15 billion, contingent on the successful development of the therapy.

This marks the largest sale of a majority-owned company by Blackstone’s Life Sciences division to date. In December 2023, Blackstone was exploring the sale of Anthos, and the current deal brings the partnership to a close.

Abelacimab is part of a new class of anticoagulants known as factor XI inhibitors, designed to potentially replace established blood thinners like Eliquis (Bristol Myers-Squibb and Pfizer) and Xarelto (Johnson & Johnson and Bayer), both of which are billion-dollar sellers. Other major companies in the factor XI race include Bristol-Myers Squibb and Johnson & Johnson, who are advancing a similar drug candidate, as well as Merck & Co, which is progressing with a mid-stage development candidate. Bayer, meanwhile, faced a setback in 2023 with its factor XI drug.

Nicholas Galakatos, Chairman of Anthos’ board and Global Head of Blackstone Life Sciences expressed pride in the firm’s role in launching and growing Anthos, adding, “We believe abelacimab has the potential to be a leader in the new class of Factor XI anticoagulants and are pleased to have Novartis as a committed partner to advance the development and commercialization of abelacimab for millions of patients at risk of strokes.”

Anthos is currently conducting multiple Phase 3 clinical trials, with data expected in the second half of 2026. While Novartis holds a small minority equity stake in Anthos, the company has not disclosed the exact size of this investment.

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Cyprus Hotels Report Improved Bookings Ahead Of Summer Season

Overview of Booking Trends

The Chairman of the Pan-Cypriot Hotel Association, Thanos Michailidis, stated that there is a gradual improvement in booking activity. However, he cautioned that the current flow remains below expectations for May, with a similar outlook anticipated for June.

Seasonal Performance Concerns

According to Michailidis, booking activity has improved compared with March, but volumes remain lower than typically expected at this stage of the season. The shortfall has been particularly noticeable for July and August bookings, a trend that first emerged in March. At the same time, increased last-minute demand has provided some encouragement, with industry stakeholders closely monitoring booking patterns ahead of the peak summer season.

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Implications Of The Israeli Market

Michailidis highlighted the growing importance of the Israeli market for Cyprus tourism. He noted that demand from Israeli travellers tends to respond quickly to changing conditions, making the market an important factor in the sector’s short-term performance.

The Critical Role Of Human Capital

Michailidis also pointed to staffing challenges facing the tourism industry. Regional instability in the Middle East has added uncertainty for employers seeking to retain and recruit personnel. He said government measures introduced in April helped address requests from the sector and supported efforts to maintain staffing levels during the summer period.

Competitive Pricing And Market Adaptations

Hotel operators continue to offer competitive pricing, according to Michailidis. Many businesses have expanded discounts for travel agents and introduced special offers targeting the domestic market in an effort to stimulate demand. He also noted that Cyprus faces structural challenges linked to air connectivity, with flight costs often remaining higher than those of competing destinations.

Key Markets And Future Prospects

The United Kingdom, Israel, Poland, Germany and the Scandinavian countries remain among Cyprus’ most important tourism markets, according to Michailidis. Domestic tourism also continues to play a significant role, particularly during holiday periods such as the Pentecost weekend.

Industry stakeholders are expected to monitor booking trends closely over the coming weeks as they assess demand for the remainder of the summer season.