Novartis enhances oncology portfolio with deal to purchase MorphoSys AG at EUR 68 per share, totalling EUR 2.7 billion in cash

Vantage Market Research

May 20, 2024

Novartis has started conversations about presenting a voluntary public takeover offer to acquire MorphoSys AG, a well-known international biopharmaceutical business with its headquarters in Germany that is renowned for its creative contributions to the development of cancer drugs. The goal of this proposed acquisition is to strengthen and expand Novartis' present oncology portfolio, which is a major area of focus for the company. It is subject to usual closing conditions, such as regulatory approvals and a minimum acceptance threshold of 65% of outstanding shares tendered in the offer. It also makes Novartis' global presence in the hematology discipline stronger. 

Following the acquisition, Novartis will gain ownership of pelabresib (CPI-0610), an innovative treatment with the potential to transform clinical practice. When used alongside ruxolitinib, pelabresib offers a well-tolerated safety profile for patients with myelofibrosis (MF). Additionally, the acquisition will encompass tulmimetostat (CPI-0209), an early-stage investigational compound that functions as a dual inhibitor of enhancer of zeste homolog 1 and 2 (EZH1 and EZH2) proteins.

AbbVie Finalizes Acquisition of ImmunoGen, Expanding Oncology Portfolio

AbbVie has completed its acquisition of ImmunoGen, fully integrating ImmunoGen into its operations. Through this acquisition, ImmunoGen now forms an essential component of AbbVie, adding its flagship antibody-drug conjugate (ADC) ELAHERE® (mirvetuximab soravtansine-gynx) for folate receptor-alpha (FRα) positive platinum-resistant ovarian cancer (PROC) to AbbVie's portfolio. ImmunoGen's pipeline complements AbbVie's existing oncology portfolio, offering significant potential in treating various solid tumors and hematologic malignancies. Notably, ImmunoGen's advanced-stage development programs for ELAHERE present opportunities for expansion into earlier lines of therapy and wider patient populations.

AbbVie reiterates its 2024 full-year adjusted diluted EPS guidance range of $11.05 to $11.25, incorporating a $0.42 per share dilutive impact associated with the ImmunoGen acquisition and the pending Cerevel Therapeutics acquisition. Additionally, AbbVie revises its previously issued 2024 first-quarter adjusted diluted EPS guidance range from $2.30 to $2.34 to $2.26 to $2.30, reflecting a $0.04 per share dilutive impact related to the ImmunoGen acquisition.

ELAHERE® (mirvetuximab soravtansine-gynx) stands as the inaugural antibody-drug conjugate (ADC) sanctioned by the U.S. Food and Drug Administration (FDA) for ovarian cancer treatment. FDA's accelerated approval for ELAHERE in folate receptor-alpha (FRα) positive platinum-resistant ovarian cancer (PROC) patients was predicated on response data. Currently, the FDA is reviewing results from a confirmatory trial, demonstrating ELAHERE as the pioneering targeted agent to confer a survival advantage in PROC. This underscores its potential for label expansion, offering opportunities across broader segments of the ovarian cancer market.

Concurrently, analysts at Vantage Market Research anticipate significant expansion in the Ovarian Cancer Drugs Market, propelled by advancements and growth within the pharmaceutical sector in the production of ovarian cancer medications, an increase in the approval of diverse ovarian cancer drugs, and the mounting prevalence of ovarian cancer. The global Ovarian Cancer Drugs Market, valued at USD 3.7 Billion in 2023, is forecasted to attain a valuation of USD 6.67 Billion by 2032, exhibiting a CAGR of 6.8% from 2024 to 2032. 

Ovarian Cancer Drugs Market Size, Share & Trends Analysis Report by Therapeutic Class (PARP Inhibitors, Angiogenesis Inhibitors, PD-L1 Inhibitors) by Treatment (Chemotherapy, Radiation Therapy, Hormonal Therapy, Targeted Therapy, Other Treatments) by End User (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy) by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2018 - 2023) & Forecast (2024 - 2032)