Novartis to acquire Tourmaline Bio for $1.4 billionNovartis will acquire Tourmaline Bio for $48 per share, valuing the New York-based biopharmaceutical company at $1.4 billion on a fully diluted basis, the Swiss pharma giant said on Tuesday. Tourmaline is focused on developing pacibekitug, a promising targeted therapy with the potential to reduce systemic inflammation, as a treatment option for atherosclerotic cardiovascular disease, Novartis said in a statement. With the deal, Novartis will acquire a Phase III-ready asset that will complement its existing cardiovascular disease portfolio, it said.