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Swiss pharma giant Novartis is acquiring immunology biotech Excellergy for $2 billion, marking its second multi-billion dollar deal in a single week. The target company is developing a next-generation allergy treatment that could outperform existing options in both speed and effectiveness. The deal underscores Novartis's aggressive push into immunology.

The Swiss pharma giant is betting on a next-generation allergy treatment that may prove to work faster and better than anything currently on the market.