MorphoSys surges 50% after Reuters report Novartis in acquisition talks

Morphosys AG

05/02/2024 17:53

** U.S.-listed shares of Germany's MorphoSys AG  MOR.O 
surge 50% to $16.60 on Mon following report that drugmaker
Novartis  NOVN.S  is in advanced talks to acquire the drug
developer
    ** MOR shares rose as high as $16.97, making it the highest
level since July 2021
    ** Novartis prevailed over rival drug maker Incyte Corp
 INCY.O  to begin acquisition talks with MorphoSys, Reuters
reported citing two people familiar with matter
    ** MorphoSys  MORG.DE  develops drugs that fight deadly
forms of cancers
    ** With move on the session, U.S.-listed shares up about
230% over the past year

 (Reporting by Chibuike Oguh in New York)
 ((Chibuike.Oguh@thomsonreuters.com; +332-219-1834; Reuters
Messaging: chibuike.oguh.thomsonreuters.com@reuters.net))