<SEC-DOCUMENT>0001171843-23-003863.txt : 20230612
<SEC-HEADER>0001171843-23-003863.hdr.sgml : 20230612
<ACCEPTANCE-DATETIME>20230612092629
ACCESSION NUMBER:		0001171843-23-003863
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20230612
FILED AS OF DATE:		20230612
DATE AS OF CHANGE:		20230612

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NOVARTIS AG
		CENTRAL INDEX KEY:			0001114448
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			V8
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-15024
		FILM NUMBER:		231007252

	BUSINESS ADDRESS:	
		STREET 1:		LICHTSTRASSE 35
		CITY:			BASEL
		STATE:			V8
		ZIP:			CH 4056
		BUSINESS PHONE:		01141613241111

	MAIL ADDRESS:	
		STREET 1:		LICHTSTRASSE 35
		CITY:			BASEL
		STATE:			V8
		ZIP:			CH 4056
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>f6k_061223.htm
<DESCRIPTION>FORM 6-K
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<P STYLE="font-size: 18pt; text-align: center; margin: 0pt 0"><B>UNITED STATES</B></P>

<P STYLE="font-size: 18pt; text-align: center; margin: 0pt 0"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Washington, D.C. 20549</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 18pt; text-align: center; margin: 0pt 0"><B>FORM 6-K</B></P>

<P STYLE="font-size: 18pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>REPORT OF FOREIGN PRIVATE ISSUER</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>PURSUANT TO RULE 13a-16 or 15d-16 OF</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>THE SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><b>Report on Form 6-K dated June
12, 2023</b></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>(Commission File No. 1-15024)</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">____________________</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 18pt; text-align: center; margin: 0pt 0"><B>Novartis AG</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">(Name of Registrant)</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Lichtstrasse 35</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>4056 Basel</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Switzerland</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">(Address of Principal Executive Offices)</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">____________________</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 3pt">Indicate by check mark whether the registrant files or will file annual reports under
cover of Form 20-F or Form 40-F:</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-align: right; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Form 20-F:&nbsp;&#9746;</B></FONT></TD>
    <TD STYLE="width: 3%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 47%; font-size: 10pt"><FONT STYLE="font-size: 10pt">Form 40-F:&nbsp;&#9744;</FONT></TD></TR>
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<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>



<P STYLE="font-size: 10pt; margin: 0pt 0 3pt">Indicate by check mark whether the registrant by furnishing the information contained
in this form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange
Act of 1934.&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-align: right"><FONT STYLE="font-size: 10pt">Yes:&nbsp;&#9744;</FONT></TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 47%"><FONT STYLE="font-size: 10pt"><B>No</B>:&nbsp;<B>&#9746;</B></FONT></TD></TR>
</TABLE>


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    <TD STYLE="width: 33%"><FONT STYLE="font-size: 10pt"><IMG SRC="logo.jpg" ALT=""></FONT></TD>
    <TD STYLE="width: 34%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 33%"><p style="color: rgb(4,96,169); font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><b>Novartis&nbsp;International&nbsp;AG<BR>
                           Novartis&nbsp;Global Communications</b><BR>
                           <font style="color: windowtext">CH-4002 Basel</font><BR>
                           <font style="color: windowtext">Switzerland</font></P>

<p style="color: #0460A9; font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<p style="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">https://www.novartis.com</P>
<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">https://twitter.com/novartisnews</P>



</TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font-size: 12pt; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0px"><FONT STYLE="font-size: 10pt">&nbsp;</font></p>

<p style="color: rgb(0, 0, 0); font-size: 12pt; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0px"><font style="font-size: 10pt">&nbsp;</font></p>

<p style="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: rgb(141,31,27)"><b>MEDIA &amp; INVESTOR RELEASE</b></p>

<P STYLE="color: rgb(0, 0, 0); font-size: 12pt; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0px"><FONT STYLE="font-size: 10pt"></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font-size: 12pt; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0px"><font style="font-size: 10pt">&nbsp;</font></p>

<P STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-right: 15.45pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 14pt">Novartis
bolsters innovative medicines strategy and renal pipeline with agreement to acquire Chinook Therapeutics for USD 3.2bn upfront
(USD 40 / share)</FONT></P>

<P STYLE="margin: 0pt 15.45pt 0pt 37.9pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 14pt">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 12pt"><B>Ad hoc announcement pursuant to Art. 53 LR</B></FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 10.8pt">&bull;</TD><TD STYLE="padding-right: 15.75pt"><I>Chinook Therapeutics is a clinical-stage biopharmaceutical company with two high- value, late-stage
assets in development for IgA nephropathy (IgAN), a rare, progressive chronic kidney disease</I></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 10.8pt">&bull;</TD><TD STYLE="padding-right: 0.55in"><I>Agreed deal to include atrasentan, an oral endothelin A receptor antagonist, in Phase 3 development
for IgAN, and zigakibart, an anti-APRIL monoclonal antibody, entering Phase 3 for IgAN</I></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 10.8pt">&bull;</TD><TD STYLE="padding-right: 21.85pt"><I>Up to USD 3.5bn transaction (includes USD 40 cash / share plus contingent value right of up to USD
4 cash / share) approved by Novartis and Chinook Boards, expected to close in the second half of 2023, subject to customary closing conditions</I></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 15.45pt; margin-bottom: 0pt"><B>Basel, June 12, 2023 </B>&mdash; Novartis today announced that it has entered
into an agreement to acquire Chinook Therapeutics, a Seattle, WA, based clinical stage biopharmaceutical company with two high-value,
late-stage medicines in development for rare, severe chronic kidney diseases. The agreed deal, which is subject to customary closing conditions,
is fully in line with Novartis strategy to focus on innovative medicines and will significantly expand its renal portfolio, complementing
the existing pipeline.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 14.15pt; margin-bottom: 0pt">&ldquo;<I>IgA Nephropathy is a devastating disease mostly affecting young adults
and potentially leading to dialysis or kidney transplantation. We are excited by this unique opportunity to address one of society&rsquo;s
most challenging healthcare issues, with the potential to bring additional much-needed treatment options to patients.</I>&rdquo; said
Vas Narasimhan, M.D., CEO of Novartis. &ldquo;<I>We look forward to closing the deal, to a smooth transition for Chinook employees and
to welcoming them to Novartis&rdquo;.</I></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 14.15pt; margin-bottom: 0pt">Chinook&rsquo;s pipeline includes two late-stage assets in clinical development
to treat Immunoglobulin A Nephropathy (IgAN), a progressive, rare kidney disease that mostly affects young adults and currently lacks
targeted treatment options. As many as 3 in 10 patients progress to kidney failure and dialysis within 10 years<FONT STYLE="font-size: 10pt"><SUP>1,2</SUP></FONT>.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 14.15pt; margin-bottom: 0pt">Atrasentan, an oral endothelin A receptor antagonist (ERA), currently in Phase
3 development for IgAN with pivotal readout expected in Q4 2023, has shown significant reductions in proteinuria. Atrasentan is also in
early-stage development for other rare kidney diseases.</P>

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<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 5.15pt; margin-bottom: 0pt">Zigakibart (BION-1301) is a subcutaneously administered anti-APRIL monoclonal
antibody; a Phase 3 trial in IgAN is expected to start in Q3 2023.</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 14.15pt; margin-bottom: 0pt">Chinook has deep expertise in modeling and understanding kidney disease and
a promising early pipeline to address a number of severe renal conditions.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt">Transaction Details</P>

<P STYLE="font-size: 10pt; margin-right: 16.3pt; margin-bottom: 0pt">Under the agreed deal, which has been unanimously approved by the Boards of
both companies, Novartis will acquire Chinook for a total value of up to USD 3.5bn with the transaction being in the form of a merger
of Chinook and a newly formed Novartis subsidiary. Pursuant to the terms of the merger agreement, holders of Chinook common stock would
receive USD 3.2bn (USD 40.00 per share) in cash upon closing, plus a contingent value right with a value of up to USD 0.3bn (USD 4.00
per share), payable in cash upon the achievement of certain regulatory milestones. The transaction is expected to close in the second
half of 2023, subject to customary closing conditions, including approval of Chinook&rsquo;s stockholders and receipt of regulatory approvals.
Until the deal closes, Chinook will continue to operate as a separate and independent company.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt">About IgAN</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 15.25pt; margin-bottom: 0pt">IgAN is a progressive, rare kidney disease that mostly affects young adults
and currently lacks targeted treatment options. In IgAN, autoimmune reaction to an abnormal form of IgA results in formation of immune
complexes that deposit in the kidney. These immune complexes trigger inflammation and kidney damage leading to progressive loss of renal
function<FONT STYLE="font-size: 10pt"><SUP>3</SUP></FONT>.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 15.45pt; margin-bottom: 0pt">In the U.S.,
IgAN affects up to 21 people per million per year<FONT STYLE="font-size: 10pt"><SUP>4-6</SUP></FONT>, with higher incidence in Asian
populations. IgAN is the most common cause of kidney failure in Caucasian young adults<FONT STYLE="font-size: 10pt"><SUP>7</SUP></FONT>.
With increasing damage to the kidneys, proteinuria (protein in the urine) and hematuria (blood in the urine) can occur<FONT STYLE="font-size: 10pt"><SUP>8,9</SUP></FONT>.
IgAN patients with higher levels of protein in their urine ( &ge;1 g/day) are at higher risk of disease progression, with about 30% progressing
to kidney failure within 10 years<FONT STYLE="font-size: 10pt"><SUP>1,2</SUP></FONT>. Availability of new treatments targeting different
disease pathways are transforming the treatment landscape for patients with IgAN and offer the prospect that patients with IgAN do not
develop end stage kidney disease in their lifetime<FONT STYLE="font-size: 10pt"><SUP>10</SUP></FONT>.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt">Atrasentan and zigakibart</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 17.3pt; margin-bottom: 0pt">Atrasentan has demonstrated a significant reduction in proteinuria versus baseline
in a Phase 2 study, with good tolerability, including liver safety profile. Zigakibart is a targeted biologic therapy with the potential
to address the root cause of IgAN, the production of abnormal galactose-deficient IgA, and preserve kidney function. Interim Phase 1/2
data showed an impressive reduction in proteinuria versus baseline. As a targeted therapy, zigakibart is expected to have a better tolerability
profile than broader-acting lymphocyte-depleting therapies.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt">Disclaimer</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 15.45pt; margin-bottom: 0pt">This press release contains forward-looking statements within the meaning
of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements can generally be identified by words
such as &ldquo;potential,&rdquo; &ldquo;can,&rdquo; &ldquo;will,&rdquo; &ldquo;plan,&rdquo; &ldquo;may,&rdquo; &ldquo;could,&rdquo; &ldquo;would,&rdquo;
&ldquo;expect,&rdquo; &ldquo;look forward,&rdquo; &ldquo;investigational,&rdquo; &ldquo;pipeline,&rdquo; &ldquo;to acquire,&rdquo; &ldquo;development,&rdquo;
&ldquo;to include,&rdquo; &ldquo;progress,&rdquo; &ldquo;expected,&rdquo; &ldquo;continue,&rdquo; &ldquo;opportunity,&rdquo; &ldquo;to
address,&rdquo; &ldquo;commitment,&rdquo; or similar terms, or by express or implied discussions regarding potential marketing approvals,
new indications or labeling for atresentan or zigakibart, the acquisition of Chinook Therapeutics, or regarding potential future revenues
from atresentan or zigakibart. You should not place undue reliance on these statements. Such forward-looking statements are based on
our current beliefs and expectations regarding future events, and are subject to significant known and unknown risks and uncertainties.
Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may
vary materially from those set forth in the forward-looking statements. There can be no guarantee that atresentan or zigakibart will
be submitted or approved for sale or for any additional indications or labeling in any market, or at any particular time. Neither
can there be any guarantee expected benefits or synergies from this transaction will be achieved in the expected timeframe, or at all,
nor can there be any guarantee that atresentan or zigakibart <FONT STYLE="color: #211F1F">will be commercially successful in
the future. In particular, our expectations regarding </FONT>atresentan or zigakibart <FONT STYLE="color: #211F1F">or the transaction
described in this press release could be affected by, among other things, expected revenues, cost savings, synergies and other benefits
from the proposed transaction might not be realized within the expected time frames or at all and costs or difficulties relating to integration
matters, including but not limited to employee retention, might be greater than expected; the requisite regulatory approvals and clearances
for the proposed transaction may be delayed or may not be obtained (or may result in the imposition of conditions that could adversely
affect the combined company or the expected benefits of the proposed transaction); the requisite approval of Chinook&rsquo;s stockholders
may be delayed or may not be obtained, the other closing conditions to the proposed transaction may be delayed or may not be obtained,
or the merger agreement may be terminated; business disruption may occur following or in connection with the proposed merger; Novartis
or Chinook&rsquo;s businesses may experience disruptions due to transaction- related uncertainty or other factors making it more difficult
to maintain relationships with employees, other business partners or governmental entities; the possibility that the proposed transaction
is more expensive to complete than anticipated, including as a result of unexpected factors or events; diversion of management&rsquo;s
attention from ongoing business operations and opportunities as a result of the proposed merger or otherwise; </FONT>the uncertainties
inherent in research and development, including clinical trial results and additional analysis of existing clinical data; regulatory
actions or delays or government regulation generally; global trends toward health care cost containment, including government, payor
and general public pricing and reimbursement pressures and requirements for increased pricing transparency; our ability to obtain or
maintain proprietary intellectual property protection; the particular prescribing preferences of physicians and patients; general political,
economic and business conditions, including the effects of and efforts to mitigate pandemic diseases such as COVID-19; safety, quality,
data integrity or manufacturing issues; potential or actual data security and data privacy breaches, or disruptions of our information
technology systems, and other risks and factors referred to in Novartis AG&rsquo;s current Form 20- F on file with the US Securities
and Exchange Commission. Novartis is providing the information in this press release as of this date and does not undertake any obligation
to update any forward-looking statements contained in this press release as a result of new information, future events or otherwise.</P>

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<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;<B>Additional Information and Where to Find It</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 17.3pt; margin-bottom: 0pt">In connection with the proposed merger between Novartis and Chinook, Novartis
and Chinook intend to file relevant materials with the SEC, including a preliminary and definitive proxy statement to be filed by Chinook.
The definitive proxy statement and proxy card will be delivered to the stockholders of Chinook in advance of the special meeting relating
to the proposed merger. CHINOOK&rsquo;S STOCKHOLDERS ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT IN ITS ENTIRETY WHEN IT BECOMES
AVAILABLE AND ANY OTHER DOCUMENTS FILED BY EACH OF NOVARTIS AND CHINOOK WITH THE SEC IN CONNECTION WITH THE PROPOSED MERGER OR INCORPORATED
BY REFERENCE THEREIN BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND THE PARTIES TO THE PROPOSED TRANSACTION. Investors and security holders
will be able to obtain a free copy of the proxy statement and such other documents containing important information about Novartis and
Chinook, once such documents are filed with the SEC, through the website maintained by the SEC at www.sec.gov. Novartis and Chinook make
available free of charge at the Novartis website and Chinook&rsquo;s website, respectively (in the &ldquo;Investors&rdquo; section), copies
of materials they file with, or furnish to, the SEC. The contents of the websites referenced above are not deemed to be incorporated by
reference into the proxy statement.</P>

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<P STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt">Participants in the Solicitation</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 16.3pt; margin-bottom: 0pt">This press release does not constitute a solicitation of proxy, an offer to
purchase or a solicitation of an offer to sell any securities. Novartis, Chinook and their respective directors, executive officers and
certain employees may be deemed to be participants in the solicitation of proxies from the stockholders of Chinook in connection with
the proposed merger. Information regarding the special interests of these directors and executive
officers in the proposed merger will be included in the definitive proxy statement referred to above. Security holders may also obtain
information regarding the names, affiliations and interests of the Novartis directors and executive officers in the Novartis Annual Report
on Form 20-F and Form 20-F/A for the fiscal year ended December 31, 2022, which were filed with the SEC on February 1, 2023, and May 15,
2023, respectively. Security holders may obtain information regarding the names, affiliations and interests of Chinook&rsquo;s directors
and executive officers in Chinook&rsquo;s Annual Report on Form 10-K for the fiscal year ended December 31, 2022, which was filed with
the SEC on February 27, 2023, and its definitive proxy statement for the 2023 annual meeting of stockholders, which was filed with the
SEC on April 28, 2023. To the extent the holdings of Chinook&rsquo;s securities by Chinook&rsquo;s directors and executive officers have
changed since the amounts set forth in Chinook&rsquo;s definitive proxy statement for its 2023 annual meeting of stockholders, such changes
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<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt">References</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 37.85pt"></TD><TD STYLE="width: 14.45pt">1.</TD><TD>Nam, K.H., Kie, J.H., Lee, M.J., Chang, T.I., Kang, E.W., Kim, D.W., Lim, B.J., Park, J.T., Kwon, Y.E., Kim, Y.L.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 15.45pt 0pt 52.3pt">and Park, K.S., 2014. Optimal proteinuria target for renoprotection in patients
with IgA nephropathy.PLoS One, 9(7), p.e101935.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 37.9pt"></TD><TD STYLE="width: 14.4pt">2.</TD><TD STYLE="padding-right: 28.95pt">Sevillano, A.M., Guti&eacute;rrez, E., Yuste, C., Cavero, T., M&eacute;rida, E., Rodr&iacute;guez,
P., Garc&iacute;a, A., Morales, E., Fern&aacute;ndez, C., Mart&iacute;nez, M.A. and Moreno, J.A., 2017. Remission of hematuria improves
renal survival in IgA nephropathy. Journal of the American Society of Nephrology, 28(10), pp.3089-3099.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 37.85pt"></TD><TD STYLE="width: 14.45pt">3.</TD><TD>Lai KN, et al. Nat Rev Dis Primers 2016;2:16001</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 37.85pt"></TD><TD STYLE="width: 14.45pt">4.</TD><TD>Fischer EJ, et al. 2009; Clin Nephrol;72:163&#8210;169</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 37.85pt"></TD><TD STYLE="width: 14.45pt">5.</TD><TD>Swaminathan S. Clin J Am Soc Nephrol 2006;1:483&ndash;487</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 37.85pt"></TD><TD STYLE="width: 14.45pt">6.</TD><TD>Sim JJ et al. Am J Kidney Dis 2016;68:533&#8210;544; 6. Zaza G. Am J Nephrol 2013;37:255&ndash;263</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 37.85pt"></TD><TD STYLE="width: 14.45pt">7.</TD><TD>Nair R, Walker PD. Kidney Int 2006;69:1455-83.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 37.9pt"></TD><TD STYLE="width: 14.4pt">8.</TD><TD STYLE="padding-right: 26.8pt">Nolin, L. and Courteau, M., 1999. Management of IgA nephropathy: evidence-based ecommendations. Kidney
International, 55, pp.S56-S62.doi: 10.1046/j.1523-1755.1999.07008.x. PMID: 10369196.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 37.9pt"></TD><TD STYLE="width: 14.4pt">9.</TD><TD STYLE="padding-right: 55.4pt">National Institute of Diabetes and Digestive and Kidney Diseases. IgA nephropathy. Available at: https://www.niddk.nih.gov/health-information/kidney-disease/iga-nephropathy
[Accessed August 2021]</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 37.9pt"></TD><TD STYLE="width: 14.4pt">10.</TD><TD STYLE="padding-right: 31.75pt">Haresh Selvaskandan, Guillermo Gonzalez-Martin, Jonathan Barratt &amp; Chee Kay Cheung (2022) IgA nephropathy:
an overview of drug treatments in clinical trials, Expert Opinion on Investigational Drugs, 31:12, 1321-1338</TD></TR></TABLE>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
