Group 1 - Swiss pharmaceutical giant Novartis has signed a licensing agreement worth up to $5.7 billion with biotechnology company Monte Rosa for the development of drugs to treat immune-mediated diseases [1] - Monte Rosa will receive an upfront payment of $120 million as part of the agreement [1] - Following the announcement, Monte Rosa's stock surged by 50% in pre-market trading [1]

Core Viewpoint - The partnership between Swiss pharmaceutical giant Novartis and biotechnology company Monte Rosa is significant, with a total deal value of up to $5.7 billion for developing drugs to treat immune-mediated diseases [1] Group 1 - Novartis signed a licensing agreement with Monte Rosa worth up to $5.7 billion [1] - Monte Rosa will receive an upfront payment of $120 million as part of the agreement [1] - Following the announcement, Monte Rosa's stock surged by 50% in pre-market trading [1]

Core Insights - Novartis signed a licensing agreement with Monte Rosa worth up to $5.7 billion for the development of drugs targeting immune-mediated diseases [1] - Monte Rosa will receive an upfront payment of $120 million as part of the agreement [1] - Following the announcement, Monte Rosa's stock surged by 50% in pre-market trading [1]