MOR - Novartis And MorphoSys Are A Perfect Match

2024-02-06 08:00:00 ET

Summary

• Novartis plans to acquire MorphoSys, a German biopharmaceutical company, for EUR 2.7 billion in cash.
• The acquisition will give Novartis access to MorphoSys' extensive oncological pipeline, including the potentially game-changing treatment option for myelofibrosis, pelabresib.
• Novartis has a strong financial position and the capacity to comfortably fund the acquisition, demonstrating its readiness to enhance its oncology portfolio.

Novartis' Courtship of MorphoSys: A Billion-Euro Love Story

It's February, and love is in the air. For the biotechnology sector, that means M&A activity. In line with this, Novartis ( NVS ) announced yesterday its intention to become one with MorphoSys ( MOR ), a Germany-based biopharmaceutical company that develops medicines for cancer, for EUR 68 per share, or an aggregate of EUR 2.7 billion in cash. The acquisition is expected to be completed before July. ...

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