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home / news releases / morphosys hold rating until the novartis deal closes

MOR - MorphoSys: Hold Rating Until The Novartis Deal Closes

MorphoSys AG

2024-04-30 20:36:07 ET

Summary

  • MorphoSys acquired by Novartis for EUR 2.7 billion, showcasing a significant premium over pre-announcement share price.
  • The deal is expected to go through smoothly based on regulatory approvals received and successful precedents of similar M&A transactions.
  • Pelabresib, MorphoSys's leading candidate for myelofibrosis treatment, shows promising results and potential as a game-changer in the field.
  • We downgrade to a hold rating, although, we believe the deal will close in 1H 2024.

A key update to the thesis: downgrading to a hold rating until the deal closes

For further details see:

MorphoSys: Hold Rating Until The Novartis Deal Closes
Stock Information
Company Name: MorphoSys AG
Stock Symbol: MOR
Market: NASDAQ
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