Novartis tender offer for AveXis commences

Novartis AG (NYSE: NVS) ("Novartis") today announced that its indirect wholly-owned subsidiary, Novartis AM Merger Corporation, a Delaware corporation ("Purchaser"), has commenced a cash tender offer to purchase all the outstanding shares of common stock, par value $0.0001 per share, of AveXis, Inc. (NASDAQ: AVXS) ("AveXis") for a price of USD 218.00 per share, net to the seller in cash, without interest and subject to any tax withholding (the "Offer"). The Offer is being made upon the terms and subject to the conditions set forth in the Offer to Purchase, dated April 17, 2018 and the related Letter of Transmittal and pursuant to the terms of the previously announced Agreement and Plan of Merger, dated as of April 6, 2018 (the "Merger Agreement"), among Novartis, Purchaser and AveXis.

The Offer will expire at 12:00 midnight, New York City time, at the end of the day on May 14, 2018, unless extended (the latest time and date at which the Offer will expire, the "Expiration Date"). Any extension of the Offer will be followed by public announcement of the extension by press release or other public announcement before 9:00 a.m., New York City time, on the next business day after the Expiration Date.

Novartis will file today a Tender Offer Statement on Schedule TO with the United States Securities and Exchange Commission (the "SEC"). The Offer to Purchase contained within the Schedule TO sets out the full terms and conditions of the Offer.

AveXis will file today a Solicitation/Recommendation Statement on Schedule 14D-9 (the "Schedule 14D-9") with the SEC, which includes, among other things, the recommendation of the AveXis board of directors that AveXis’ stockholders accept the Offer and tender their shares of AveXis common stock pursuant to the Offer.

The Offer is subject to customary closing conditions, including the tender of at least a majority of the outstanding shares of AveXis common stock on a fully diluted basis and the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. The Offer is subject to other important conditions set forth in the Offer to Purchase. The Offer is not subject to a financing condition.

Innisfree M&A Incorporated is acting as information agent for Purchaser in the Offer. American Stock Transfer & Trust Company, LLC is acting as the depositary and paying agent in the Offer. Requests for documents and questions by stockholders relating to the Offer may be directed to Innisfree M&A Incorporated by telephone at 1 (888) 750-5834 (toll free).

Additional Information
This press release is neither an offer to purchase nor a solicitation of an offer to sell securities. On April 17, 2018, Purchaser and Novartis will file a Tender Offer Statement on Schedule TO with the SEC and AveXis will file the Schedule 14D-9 with the SEC, in each case with respect to the Offer. The Tender Offer Statement (including the Offer to Purchase, the related Letter of Transmittal and other offer documents) and the Solicitation/Recommendation Statement contain important information that should be read carefully before any decision is made with respect to the Offer. Those materials and all other documents filed by, or caused to be filed by, Novartis, Purchaser or AveXis with the SEC will be available at no charge on the SEC’s website at www.sec.gov. The Schedule TO Tender Offer Statement and related materials will be available for free under the "Investors - Financial Data" section of Novartis’ website at www.novartis.com/inv­estors/financial-data/sec-filings. The Schedule 14D-9 and such other documents will be available for free from AveXis under the "Investor + Media" section of AveXis’ website at investors.avexis.com­/phoenix.zhtml’c=254285&p=irol-IRHome.