Novartis in advanced talks to snap up cancer drug developer MorphoSys: report

2024-02-05

临床3期上市批准临床结果并购上市后研究

Novartis is said to be deep in negotiations with MorphoSys about a potential sale, taking the lead over rival Incyte to buy the cancer drug developer, Reuters reported citing two people familiar with the matter. News of the potential buyout sent MorphoSys shares climbing up over 40% on Monday.

MorphoSys, which has a market value of €1.6 billion ($1.7 billion), develops drugs against haematologic malignancies, including certain types of lymphomas. A takeout by Novartis would be in line with CEO Vas Narasimhan's plan to keep acquisition targets by the Swiss drugmaker to $5 billion or less.

MorphoSys's sole approved product is the CD19-directed antibody Monjuvi (tafasitamab-cxix), which it sells as part of a profit-sharing agreement with Incyte. The drug was approved by the FDA for second-line diffuse large B-cell lymphoma(DLBCL) in 2021, with US sales reaching $92 million last year.

Lacklustre sales

However, MorphoSys doesn't expect much more this year. It estimates Monjuvi will bring in between $80 million and $95 million in 2024, although it says revenues should go up as the treatment is approved for more indications. The drug is currently in Phase III testing for newly diagnosed high-intermediate and high-risk DLBCL patients, as well as for relapsed/refractory follicular or marginal zone lymphoma.

The company's two other pipeline assets include the BET inhibitor BET inhibitor pelabresib for myelofibrosis, and tulmimetostat, which is directed against EZH1/EZH2 to treat advanced haematologic and solid cancers. However, pelabresib yielded mixed results in the Phase III MANIFEST-2 study last year, meeting the primary endpoint of ≥35% reduction in spleen volume among patients with myelofibrosis, but falling short on a key secondary goal related to symptom improvement.

Despite the miss, MorphoSys said it was still planning to apply for US and EU approval of the drug this year based on the "totality of data." For more, see KOL Views Q&A: Leading expert sees role for MorphoSys' pelabresib in dynamic myelofibrosis arena.

Earlier last year, MorphoSys also announced that in a bid to cut costs, it would shut down some of its early-stage programmes and let go of about 17% of its workforce. The company currently employs almost 550 people in its US and German offices, according to its website.

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