Novartis in Talks to Acquire MorphoSys, Karyopharm Surges in Sympathy
MorphoSys AG's ADRs surged 58% following reports of advanced takeover talks with Novartis, potentially edging out a rival bid from Incyte. The cancer drugmaker has attracted interest from three large pharmaceutical companies, with two based in Europe and one in the U.S. Karyopharm Therapeutics also saw a 37% surge in sympathy with the news, as analysts anticipate potential readthrough and continued upside for the company amidst the takeover speculation.