Novartis in Lead to Acquire Cancer-Drug Maker MorphoSys, Reuters Reports
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Dow Jones
--Novartis is in advanced talks with MorphoSys to acquire the cancer-drug developer with a market value of 1.6 billion euros ($1.73 billion), Reuters reports, citing unnamed sources.
--The Swiss drug maker is ahead of rival Incyte Corp, which has also made an offer for MorphoSys, Reuters reports.
--At 1547 GMT, Frankfurt shares in MorphoSys were up 33% to EUR56.20.
--Novartis and MorphoSys didn't immediately responded to requests for comment.
Write to David Sachs at david.sachs@wsj.com
(END) Dow Jones Newswires
February 05, 2024 11:29 ET (16:29 GMT)
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