Novartis acquires cancer drug developer MorphoSys for $2.9 billion

(Reuters) – Drugmaker Novartis AG said on Monday is has acquired MorphoSys AG, a developer of cancer treatments, for 2.7 billion euros. ($2.90 billion)

($1 = 0.9312 euros)

(Reporting by Urvi Dugar in Bengaluru; Editing by Shilpi Majumdar)