2024-07-08 08:34:52 ET
Summary
- Novartis is close to completing its acquisition of MorphoSys, a deal valued at EUR 2.7 billion, initially agreed upon in February.
- Despite concerns over safety issues with MorphoSys’ lead drug, pelabresib, the likelihood of these affecting the deal is low, and the concerns are deemed speculative.
- MorphoSys presented encouraging data on pelabresib at ASCO, supporting Novartis's acquisition as strategic for enhancing its oncology portfolio.
- The recommendation is to hold MorphoSys shares as the acquisition nears completion and shareholder value is realized.
Introduction
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MorphoSys: Novartis Deal Is All But Done