Morphosys Group Ag Anticipates Close Of Proposed Acquisition By Novartis In H1 2024, Submit A New Drug Application For Pelabresib In Combination With Ruxolitinib In Myelofibrosis To FDA And Marketing Authorization Application To European Medicines Agency In H2 2024.
Portfolio Pulse from Benzinga Newsdesk
Morphosys Group Ag expects to complete its acquisition by Novartis in the first half of 2024. Additionally, Morphosys plans to submit a New Drug Application for Pelabresib in combination with Ruxolitinib for Myelofibrosis to the FDA and a Marketing Authorization Application to the European Medicines Agency in the second half of 2024.
April 29, 2024 | 8:22 pm
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POSITIVE IMPACT
Morphosys Group Ag is expected to be acquired by Novartis in H1 2024 and plans to submit a New Drug Application for Pelabresib in combination with Ruxolitinib in Myelofibrosis to the FDA and EMA in H2 2024.
The acquisition by Novartis indicates a strong endorsement of Morphosys' value and potential, likely leading to a positive short-term impact on its stock price. The submission of a New Drug Application for Pelabresib in combination with Ruxolitinib represents significant progress in their pipeline, potentially boosting investor confidence and further impacting the stock positively in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Novartis is set to acquire Morphosys Group Ag in the first half of 2024, a move that could enhance its portfolio with the addition of Pelabresib in combination with Ruxolitinib for Myelofibrosis.
The acquisition of Morphosys by Novartis is likely to be viewed positively by investors as it signifies Novartis's commitment to expanding its portfolio in the oncology sector. The addition of Pelabresib in combination with Ruxolitinib could offer new treatment options in Myelofibrosis, potentially opening new revenue streams and positively impacting Novartis's stock price in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 80