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“We checked very carefully that the merger would not affect competition for the research and development of new drugs against a form of leukemia. “As a result, we have no serious competition concerns,” Cartel Office Head Andreas Mundt said in a statement.
Novartis announced its acquisition intention at the beginning of February and is willing to pay 68.00 euros per share for Morphosys. This brings the purchase price to 2.7 billion euros.
The transaction will give Novartis access to the drug pelabresib, which is used to treat myelofibrosis (MF), a life-threatening chronic bone marrow disease. In a recent combination study, the active ingredient led to a reduction in spleen volume, thus achieving the set targets. In the USA, the application for approval to the US health authority FDA should be made in the second half of 2024, if possible.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
