Vas Narasimhan, Novartis CEO (Gian Ehrenzeller/Keystone via AP Images)
Novartis wanted just one drug from MorphoSys before upping bid for whole company, document reveals
Before Novartis went all in on MorphoSys for $2.9 billion in February, the Swiss pharma giant initially wanted just one key piece from the German biotech: a late-stage small molecule drug for cancer, according to new documents published Thursday.
A bid for a Phase 3 drug would fall in line with the industry’s M&A appetite of late, as large pharmaceutical companies look to shore up their pipelines with medicines on the cusp of approval to bag near-term revenues.
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