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More pharma M&A as Novartis snaps up MorphoSys for $2.9bn

February 6, 2024

The €68-per-share cash offer has been approved by the boards of both companies, who say they expect it to be completed in the latter half of the year, subject to the usual regulatory approvals and other closing conditions. MorphoSys’ share price shot up more than 14% after the news emerged to €65.58, close to its 52-week high.

Novartis highlighted pelabresib, a BET inhibitor that recently generated mixed results in a phase 3 trial in myelofibrosis (MF), and dual EZH1/EZH2 inhibitor tulmimetostat in phase 1/2 for solid tumours as the programmes driving its interest.

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