BUSINESS REPORT

Novartis buying Parsippany-based company for $9.7B

BY Rhonda Schaffler, Correspondent |

Novartis has agreed to buy The Medicines Company for $9.7 billion. The Medicines Company is in late-stage studies of inclisiran, a drug that lowers cholesterol. Novartis called inclisiran a “potentially transformational medicine.”

Fitch Ratings has completed a credit review of five public universities in the state, which are under some pressure. Fitch has a stable outlook on Montclair, TCNJ and Stockton University, and a negative outlook for William Paterson and New Jersey City University.

Another ratings agency, Standard & Poor’s, recently lifted its ratings on Atlantic City’s debt, citing improved budget conditions.

How much did the average room cost in Atlantic City this summer? That’s one of the numbers released in a quarterly report from the State Division of Gaming Enforcement.