Business
The Mesoblast (ASX:MSB) share price jumped 33% in November and could go even higher
The Mesoblast limited (ASX: MSB) share price was one of the best performers on the ASX 200 in November.
The biotechnology company’s shares raced a massive 33% higher over the month.
Why did the Mesoblast share price zoom higher in November?
The catalyst for the strong gain by the Mesoblast share price in November was the announcement of a major deal with pharma giant Novartis.
That deal has seen Novartis sign an exclusive worldwide license and collaboration agreement for the development, manufacture, and commercialisation of Mesoblast’s mesenchymal stromal cell (MSC) product remestemcel-L for the treatment of COVID-19 Acute Respiratory Distress Syndrome (ARDS).
According to the release, Novartis will pay US$50 million…
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