Novartis’ $8.7bn AveXis deal shows gene therapy appeal

With gene therapy seeming finally to be escaping its troubled past, Basel, Switzerland-headquartered pharmaceutical giant Novartis has raised its stake in the sector by buying Bannockburn, US-based AveXis. Novartis will pay $8.7 billion (£6.1 billion) for AveXis, whose therapy AVXS-101 treats the rare genetic disorder spinal muscular atrophy.