Novartis to Acquire MorphoSys in $2.9 Billion Deal

MorphoSys Acquires Constellation Pharmaceuticals for $1.7B

June 2, 2021

Biotechnology

MorphoSys AG has agreed to acquire Constellation Pharmaceuticals for $34.00 per share in cash, valuing the transaction at approximately $1.7 billion. The deal strengthens MorphoSys' hematology-oncology pipeline by adding Constellation's mid- to late-stage candidates (pelabresib/CPI-0610 and CPI-0209) and is supported by a strategic funding partnership with Royalty Pharma that provides significant upfront and milestone funding.

Genmab A/S Acquires Merus N.V. via Tender Offer

December 12, 2025

Biotechnology

Genmab A/S, through its wholly owned purchaser Genmab Holding II B.V., completed a tender offer to acquire outstanding common shares of Merus N.V. for $97.00 per share and commenced a subsequent offering period. The acquisition adds Merus' lead late‑stage oncology asset petosemtamab to Genmab's portfolio, expanding its antibody therapeutics pipeline and expected to be accretive to EBITDA by 2029.

Eli Lilly Acquires Morphic

July 8, 2024

Biotechnology

Eli Lilly agreed to acquire Morphic Holding, Inc. for $57 per share (approximately $3.2 billion) to expand its immunology and gastroenterology pipeline with Morphic's oral integrin therapies, including MORF-057. Lilly commenced a tender offer that was completed (with subsequent second-step merger) and the transaction closed in August 2024.

Merck & Co., Inc. Acquires VelosBio Inc.

November 5, 2020

Biotechnology

Merck & Co., Inc. will acquire all outstanding shares of clinical-stage biopharmaceutical company VelosBio for $2.75 billion in cash. The acquisition adds VelosBio's lead investigational antibody-drug conjugate VLS-101 and ROR1-directed pipeline assets to Merck's oncology portfolio and is expected to close by the end of 2020, subject to customary conditions.

Sanofi Acquires Translate Bio in $3.2 Billion Deal

August 3, 2021

Biotechnology

Sanofi SA has entered into a definitive agreement to acquire all outstanding shares of clinical-stage mRNA therapeutics company Translate Bio for about $3.2 billion, or $38.00 per share in cash. The acquisition is intended to accelerate Sanofi’s application of messenger RNA (mRNA) to develop therapeutics and vaccines, building on an existing mRNA collaboration.

Novartis Acquires Anthos Therapeutics for Up to $3.1B

February 11, 2025

Pharmaceuticals

Blackstone Life Sciences and Anthos Therapeutics announced that Novartis will acquire Anthos for up to $3.1 billion, including a $925 million upfront payment to Anthos shareholders. The deal is expected to close in the first half of 2025, subject to customary closing conditions and regulatory approvals. Novartis later completed the acquisition, valuing the transaction at up to $3.1 billion with the $925 million upfront payment.