Novartis in the lead to acquire cancer drug developer MorphoSys, sources say

Drug manufacturer Novartis is reportedly in advanced talks to acquire MorphoSys, a developer of cancer treatments. Novartis is said to have outbid rival drug maker Incyte. The deal negotiations are not certain to be successful, and the acquisition price has not been disclosed. MorphoSys is a Germany-based company that specializes in drugs for deadly forms of cancer, such as myelofibrosis and certain lymphomas. Its main revenue generator is the lymphoma drug Monjuvi, with expected sales of $80-95 million in 2024. MorphoSys also has a promising drug called Pelabresib for the treatment of myelofibrosis. Novartis has been cutting costs and focusing on specific therapeutic areas.