Novartis in advanced talks to buy Cytokinetics- WSJ

Swiss drugmaker Novartis is close to acquiring Cytokinetics and the deal could be finalized as soon as this week, the Wall Street Journal reported on Monday, citing people familiar with the matter.

The deal, if finalized, could help Novartis gain access to Cytokinetics' experimental treatment for an inherited chronic heart disease that can cause cardiac arrest. Shares of Cytokinetics rose over 16% after the report.

San Francisco-based Cytokinetics is developing a drug called aficamten for hypertrophic cardiomyopathy (HCM), which causes thickening of the heart muscles leading to a likely cardiac arrest.