Novartis Acquires Morphosys for €2.7 Billion in Cash
Strengthening its Oncology Pipeline
Upon completion of the acquisition, Novartis will own pelabresib (CPI-0610), a new treatment option for patients with myelofibrosis (MF). Additionally, the acquisition includes tulmimetostat (CPI-0209), an early-stage drug currently being tested in patients with solid tumors or lymphomas. These treatments represent significant advancements in oncology and demonstrate Novartis’ commitment to improving patient outcomes.
Shreeram Aradhye, President, Development and Chief Medical Officer of Novartis commented, “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 realize the full impact and value of their investigational medicines for patients with unmet needs.”
Under the agreed transaction, which has been unanimously approved by the Board of Directors of both companies, Novartis will make a voluntary public takeover offer for all no-par value bearer shares of Morphosys for €68 per share (or an aggregate of €2.7 billion).
The transaction is subject to customary closing conditions, including acceptance of the takeover offer by at least 65% of Morphosys’s outstanding shares and receipt of regulatory approvals, and is expected to close in the first half of 2024. Until the transaction closes, Morphosys will continue to operate as a separate, independent company.
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