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Novartis AG agreed to buy the rights to an experimental drug from GlaxoSmithKline Plc for as much as $1 billion, bolstering the Swiss company’s lineup of treatments for multiple sclerosis. Novartis now will have the rights for any use of ofatumumab approved by regulators,...

The European drug regulators recommended that the drug should be licensed to be used on babies in Africa who are at high risk of the mosquito-borne disease.