--Novartis is in advanced talks with MorphoSys to acquire the cancer-drug developer with a market value of 1.6 billion euros ($1.73 billion), Reuters reports, citing unnamed sources.
--The Swiss drug maker is ahead of rival Incyte Corp, which has also made an offer for MorphoSys, Reuters reports.
--At 1547 GMT, Frankfurt shares in MorphoSys were up 33% to EUR56.20.
--Novartis and MorphoSys didn't immediately responded to requests for comment.
Write to David Sachs at david.sachs@wsj.com
(END) Dow Jones Newswires
02-05-24 1129ET