Novartis Acquires MorphoSys for $2.9 Billion, Expanding Cancer Drug Portfolio

The acquisition aims to bolster Novartis' cancer treatment offerings, including the promising but controversial pelabresib.

Novartis announced its intention to acquire German biotech firm MorphoSys for $2.9 billion, aiming to expand its cancer treatment portfolio.
The deal, expected to close in the first half of 2024, grants Novartis access to pelabresib, a drug for treating myelofibrosis, a rare bone marrow cancer.
Pelabresib has shown mixed results in clinical trials, raising questions about its regulatory approval and commercial viability.
MorphoSys' stock surged 56% following the acquisition announcement, reflecting investor optimism.
Critics argue Novartis may be overpaying for MorphoSys, given the uncertainties surrounding pelabresib's success.