Pharma BD Deal Intelligence
Outcome grade pending — assessed 5 years post-close.
Full analysis, sources & comparables →KYORIN Pharmaceutical entered into a global license agreement with Novartis Pharma AG on March 3, 2025 for KRP-M223 and back-up compounds, an…
Novartis is licensing a preclinical MRGPRX2 antagonist from Japan's Kyorin Pharmaceutical in a deal worth up to $832.5 million. The asset, KRP-M223, targets…
Novartis Nabs FDA Approval for First-of-Its-Kind Drug for Chronic Hives. Novartis drug Rhapsido is now approved as a second-line treatment for chronic…
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Novartis licensed exclusive worldwide rights (ex-Japan) to Kyorin's KRP-M223, a preclinical MRGPRX2 antagonist for chronic spontaneous urticaria, for $55M upfront and up to $777.5M in milestones plus tiered royalties. Total potential value ~$830M.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Novartis AG / Kyorin Pharmaceutical Co., Ltd. (this deal) | 2025 | $833M | — |
| Novartis AG / Advanced Accelerator Applications S.A. | 2017 | $3.9B | 98 |
| Novartis AG / Endocyte, Inc. | 2018 | $2.1B | 96 |
| Novartis AG / Lek Pharmaceuticals d.d. | 2002 | $876M | 88 |
| Novartis AG / GlaxoSmithKline plc | 2014 | $16.0B | 81 |
| Novartis AG / PTC Therapeutics Inc. | 2024 | $2.9B | 80 |
| Novartis AG / Chinook Therapeutics Inc. | 2023 | $3.5B | 78 |
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