April 10, 2018 / 8:26 AM / 13 days ago

BRIEF-Moody's Says $8.7 bln Acquisition Of Avexis Strengthens Novartis's Pipeline In Gene Therapy

April 10 (Reuters) - Moody’s:

* MOODY’S SAYS $8.7 BILLION ACQUISITION OF AVEXIS STRENGTHENS NOVARTIS’S PIPELINE IN GENE THERAPY, BUT REDUCES FINANCIAL FLEXIBILITY

* MOODY’S SAYS MONETISING VALUE OF JV STAKE HAS REDUCED DIVERSITY BUT INCREASED CASH BALANCES, AND LEFT UNCERTAINTY OVER USE OF PROCEEDS

* MOODY’S SAYS EXPECT THAT AVXS-101, IF APPROVED, WILL ONLY HAVE A MEANINGFUL IMPACT ON NOVARTIS’S EBITDA AND CREDIT METRICS FROM 2020 ONWARDS

* MOODY'S SAYS DEAL WILL NOT DO MUCH TO IMPROVE NOVARTIS'S CREDIT METRICS OVER NEXT 2 YEARS AND WE EXPECT COMPANY TO CONTINUE OPERATING WITH A LEVERAGE Source: bit.ly/2HegzGl Further company coverage:

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