A PYMNTS Company

Germany: Pharmaceutical co stock spikes with cancer treatment joint venture

By  |  June 27, 2013

Germany-based pharmaceutical giant MorphoSys saw major gains in its stock this week following the news of its joint venture with Celgene Corp. for an experimental cancer treatment. Reports say the collaboration is worth more than $800 million, plus sales royalties. MorphoSys shares spiked 17 percent, settling at its highest price since February of 2001. The venture includes the collaboration of both development and promotion of MorphoSys’s MOR202 drug. The announcement of the joint venture comes just weeks after the company announced plans to sell rights to its MOR103 treatment, a medical treatment that will be purchased by GlaxoSmithKline Plc.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Full Content: Bloomberg

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.