From Dow Jones & Company, Inc.:

Novartis AG has agreed to acquire German biopharmaceutical company MorphoSys AG for 2.7 billion euros, gaining access to potential treatments for myelofibrosis and anti-tumor drugs. The deal, approved by both boards, will involve a public takeover offer of 68 euros per share for MorphoSys. Novartis aims to strengthen its pipeline and portfolio in oncology with the acquisition, which is expected to win shareholder and regulatory approval by the first half of 2024. Novartis’ shares have gained about 20% over the past 12 months, while its American depository receipts are up about 28%.



Read more: Novartis to bolster its oncology portfolio with acquisition of MorphoSys