Deals
Novartis Needs U.S. Security Nod for Endocyte Under New Rules
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Novartis AG needs approval from U.S. national security officials for its planned takeover of Endocyte Inc., among the first deals to fall under expanded rules for reviewing foreign takeovers of American firms.
The Treasury Department announced last week temporary regulations aimed at heightening scrutiny of deals in certain "critical technology" sectors, including research and development in biotechnology. Investments in such companies are subject to a mandatory review.