Reports: Novartis has its eye on N.J.’s Medicines Co.

Novartis AG, the Swiss drugmaker with U.S. operations in East Hanover, is interested in buying Parsippany-based biotech the Medicines Co., according to multiple published reports.

Spokespeople for both Novartis and the Medicines Co. told ROI-NJ that their company does not comment on speculation.

However, according to Bloomberg, Novartis and other companies are looking at the Medicines Co., which is developing a promising cholesterol drug.

Novartis has acquired nearly $16 billion worth of assets since CEO Vas Narasimhan took over in February 2018, Bloomberg noted.

Reuters said the company is looking for a $5 billion U.S. acquisition to bolster its product pipeline as patents expire.