Novartis to acquire MorphoSys AG for €2.7bn
Betsy Goodfellow | February 6, 2024 | News story | Business Services | Novartis, Pharmacy, acquisition, morphosys
Novartis has announced that it has entered an agreement to acquire MorphoSys AG for €2.7bn, or €68 per share. The transaction is still subject to customary closing conditions, but is intended to expand Novartis’ oncology pipeline as well as boosting its expertise in haematology.
Following the acquisition, it is expected that Novartis will own pelabresib (CPI-0610), a potential treatment option for myelofibrosis (MF), and tulmimetostat (CPI-0209), an investigational treatment for patients with solid tumours or lymphomas.
Pelabresib in combination with ruxolitinib has recently been assessed in the phase 3 MANIFEST-2 study in JAK inhibitor-naïve MF patients and met its primary endpoint of reduction of spleen volume, as well as showing positive trends in symptom improvement such as its secondary endpoints of absolute and 50% chance in total symptom score (TSS) at week 24 when compared to baseline.
Sheeram Aradhye MD, president, development and chief medical officer of Novartis, commented: “We are excited about the opportunity of bringing pelabresib, a potential next-generation treatment combined with ruxolitinib, to people living with MF, a rare and debilitating form of blood cancer. With the planned acquisition of MorphoSys, we aim to further strengthen our leading pipeline and portfolio in oncology, adding to our capabilities and expertise. Building on our long-standing development partnership with MorphoSys, we look forward to continuing our work together to realise the full impact and value of their investigational medicines for patients with unmet needs.”
Betsy Goodfellow
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