(AOF) – Chinook Therapeutics is expected to rise 62% in pre-market on Wall Street after the Swiss laboratory Novartis announced on Monday that it had agreed to acquire it for an amount of up to 3.5 billion dollars. The transaction, approved by the Novartis and Chinook Boards of Directors, is expected to close in the second half of 2023, subject to customary closing conditions. Chinook’s pipeline includes two products in late-stage clinical development that target immunoglobulin A nephropathy (IgAN), a rare kidney disease.
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Loss of speed in European research
European research is losing ground to American and Chinese research. In twenty years, Europe’s share has fallen from 41% to 31% in global R&D. China’s share jumped from 1% to 8%. As for the United States, which supplanted Europe, in 2001 it devoted only 2 billion euros per year more than Europe to R&D, whereas now this gap has reached 25 billion! Some experts accuse the European authorities of not having deployed effective policies. The financing of pharmaceutical research should therefore have been better targeted via the “Horizon 2020” programme. France only comes in eighteenth position in European funding despite the quality of its research. Conversely, the United States concentrates funding on Boston and a few centers of excellence.