Novartis announced on Thursday that it had launched its tender offer for all the shares in the German biopharmaceutical company MorphoSys.

In a financial notice, the Swiss healthcare giant points out that its offer, made at a price of 68 euros per share, represents a premium of 142% compared with the share price prior to the filing of its offer in January.

The offer, which is due to close on May 13, is conditional on the acquisition of a minimum 65% stake in MorphoSys. It is expected to be recommended shortly by the company's Supervisory Board.

MorphoSys, a company specializing in antibody-based therapies for patients with cancer and autoimmune diseases, has contributed to the development of over 100 product candidates, including Tremfya, now marketed by J&J for the treatment of psoriasis.

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