Novartis to buy MorphoSys for €2.7bln

The Swiss pharmaceutical manufacturer Novartis will acquire Germany-based MorphoSys for € 2.7 billion, Novartis announced on Monday.

MorphoSys is a worldwide biopharmaceutical company that creates cutting-edge cancer treatments in oncology.

According to the company’s statement, a minimum acceptance threshold of 65 per cent of outstanding shares tendered in the takeover offer and regulatory approvals are among the customary closing conditions that apply to this acquisition.

The acquisition also enhances Novartis’s global footprint in haematology while further expanding and complementing the company’s pipeline in oncology, one of its priority therapeutic areas.