Novartis AG (SWX:NOVN) is in advanced talks to acquire MorphoSys AG (XTRA:MOR), two people familiar with the matter said on February 5, 2024. Novartis has so far prevailed over rival drug maker Incyte Corp. (INCY.O), which also made an offer for MorphoSys, the sources said.

The sources added that there is no certainty that the deal negotiations will conclude successfully and requested anonymity because the matter is confidential. They declined to give any information about the acquisition price. Novartis, MorphoSys and Incyte did not immediately respond to requests for comment.

MorphoSys shares rose more than 40% on the news on February 5, 2024.