Swiss drugmaker Novartis AG (NOVN.VX) is strengthening its personalised medicine and cancer portfolio with the $470 million buy of U.S. cancer diagnostics company Genoptix (GXDX.O). The deal, which comes after Novartis's $52 billion purchase of U.S. eyecare group Alcon Inc (ACL.N), shows Novartis still has the financial clout to clinch smaller deals as it seeks to drive growth in its five main units -- pharmaceuticals, consumer health, eyecare, generic drugs and vaccines and diagnostics. The acquisition should boost Novartis's capacity to test and predict the efficacy of drugs tailored-made to individual patients' needs. This approach is becoming an ever more important way of treating patients and is set to complement Novartis's cancer drugs business.
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