Morphosys (DE:MOR) has released an update.
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MorphoSys AG has become a majority-owned subsidiary of Novartis following a successful voluntary public takeover offer at €68.00 per share, with Novartis BidCo AG acquiring a stake of approximately 91.04%. The company also sold the rights to tafasitamab to Incyte for $25 million and announced significant changes to its management board and financial guidance post-takeover, including the expectation of no product sales revenues for 2024. Furthermore, MorphoSys’s development pipeline includes partnerships with Novartis and Anthos Therapeutics on multiple clinical programs in various disease areas.
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