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Novartis Acquire Morphosys: German Government Approve Now

  • By The Swiss Times
  • 12 March 2024

Novartis’ plans to takeover of Morphosys receives green light from German regulators, promising advancements in leukemia and more.

Novartis Acquire Morphosys: German Government Approve Now
Keystone/GEORGIOS KEFALAS

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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