Tue, Mar 12th 2024
Novartis’ plans to takeover of Morphosys receives green light from German regulators, promising advancements in leukemia and more.
Novartis may take over the German biotech company Morphosys. The German Cartel Office gave the go-ahead for the purchase on Tuesday.
We have examined very carefully that competition in the research and development of new drugs against a form of leukemia will not be impaired by the merger. As a result, we have no serious competition concerns
Andreas Mundt, President of the German Federal Cartel Office
Novartis announced its intention to buy Morphosys at the beginning of February and intends to pay 68.00 euros per share. This brings the purchase price to 2.7 billion euros.
The transaction gives Novartis access to pelabresib, a drug for the treatment of myelofibrosis (MF), a life-threatening chronic disease of the bone marrow.
In a recent combination study, the active ingredient led to a reduction in spleen volume and thus achieved the targets set. In the USA, the application for approval from the US Food and Drug Administration (FDA) should be submitted in the second half of 2024 if possible.
©Keystone/SDA
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