Novartis Reports Acquisition of MorphoSys for ~$2.9B
Shots:
- Novartis has signed an agreement to acquire MorphoSys as a strategic step to enhance its oncology and hematology pipeline by owning programs incl. pelabresib, being evaluated in the P-II study as a 2L treatment for essential thrombocythemia & tulmimetostat, targeting EZH1 and EZH2 proteins, being investigated for solid tumors or lymphomas
- Novartis will take over all MorphoSys’ no-par value bearer shares for ~$73 each, making it a total of ~$2.9B in cash
- The transaction, to be concluded in H1'24, has certain closing conditions with Novartis seeking a minimum 65% acceptance of MorphoSys’ outstanding shares and regulatory approvals. MorphoSys will function as an independent company until the closure
Ref: Novartis | Image: morphosys
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Shivani was a content writer at PharmaShots. She has a keen interest in recent innovations in the life sciences industry. She was covering news related to Product approvals, clinical trial results, and updates. We can be contacted at connect@pharmashots.com.
