Novartis Pursuit of Cytokinetics Cools

Novartis has backed away from its pursuit of Cytokinetics, placing a damper on the prospects of a deal for the promising heart-drug developer. 

The Swiss drug large had been closing in on a purchase order of South San Francisco-based Cytokinetics, with an settlement anticipated as quickly as this week, The Wall Road Journal reported Monday. However Novartis, which had been pursuing the biotech for a number of months, backed away someday prior to now day or two, in accordance with the individuals.