Novartis AG announced in an official statement on Monday that it will acquire MorphoSys AG, a German-based global biopharmaceutical company, for $2.9 billion.
Novartis will acquire the company for €68.00 per share, equating to €2.7 billion ($2.9 billion). Once the transaction is completed, Novartis will own pelabresib (CPI-0610), a "potentially practice-changing" treatment option for patients suffering from myelofibrosis (MF), which is a bone marrow disorder. The company will also become the owner of tulmimetostat (CPI-0209), an early-stage inhibitor meant to reactivate tumor suppressor genes.
Novartis stated that the deal, set to close in the first half of 2024, "further expands and complements Novartis pipeline in oncology, one of its priority therapeutic areas, while also enhancing Novartis global footprint in hematology."
