Novartis Buys MorphoSys for €2.7 Billion to Get Cancer Drugs

Swiss drugmaker to gain experimental blood-cancer medicine
CEO Narasimhan has been focused on bolt-on purchases

MorphoSys headquarters in Planegg, Germany
Photographer: Sven Hoppe/picture alliance/Getty Images

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By Thomas Mulier and John Lauerman

February 5, 2024 at 3:47 PM UTC

Updated on

February 6, 2024 at 9:23 AM UTC

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Novartis AG agreed to buy MorphoSys AG for €2.7 billion ($2.9 billion) as the Swiss pharma company starts following through on plans to use bolt-on acquisitions to beef up its pipeline.

The Swiss drugmaker will pay €68 a share in cash for the German biotech maker of cancer treatments, which is 61% above the Feb. 2 closing price.