Novartis recently made strategic acquisitions to expand its pharmaceutical portfolio:

Monte Rosa Therapeutics, a biotechnology company, announced that Swiss pharmaceutical company Novartis will pay $150 million upfront for a global license to develop, manufacture, and commercialize certain drugs. This agreement includes a class of drugs known as “molecular glue degraders,” which target abnormal protein functions associated with diseases that are difficult to treat with existing medications. Monte Rosa is also eligible to receive up to $2.1 billion in future payments and royalties on sales outside the United States. Molecular glue degraders are small molecules that link a target protein to an enzyme responsible for tagging cellular components for disposal. Novartis will gain access to MRT-6160, a drug currently in early-stage studies by Monte Rosa for immune-mediated diseases, with mid-stage studies to be conducted by Novartis. citeturn0search0