MorphoSys acquires Constellation Pharma for $1.7B

Oncology firm Constellation Pharmaceuticals Inc. (Nasdaq: CNST) is set to be acquired by MorphoSys AG (Nasdaq: MOR), a German drugmaker with a U.S. headquarters in Boston, for $1.7 billion in cash. Constellation shares surged by nearly 67% on the news, trading at just under $34 each as of midday Wednesday, about the equivalent MorphoSys had valued them at. Constellation share prices had been trading at about $20 apiece since mid-April. MorphoSys' share prices were almost unchanged. Launche d in…
Source: bizjournals.com Health Care:Physician Practices headlines - Category: American Health Authors: Source Type: news