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Novartis will close two MorphoSys sites in Munich and Boston by the end of 2025, following delays in the development of pelabresib. The Swiss pharmaceutical company acquired MorphoSys for €2.7 billion ($2.9 billion) earlier this year, focusing on innovative oncology treatments.
Novartis will close two MorphoSys sites in Germany and the US, resulting in approximately 330 job losses, following delays in the pelabresib program. The decision comes after mixed results in a phase 3 trial for the blood disorder myelofibrosis, prompting a potential filing delay until 2027. Despite challenges, Novartis remains committed to the drug, which it previously deemed "practice-changing."
Novartis is set to close its sites in Munich and Boston, resulting in the loss of 330 jobs, following its $2.9 billion acquisition of MorphoSys. The closures are expected to be completed by the end of 2025. This move comes as Novartis continues to expand its oncology portfolio and engage in various licensing deals.
Novartis is closing MorphoSys sites in Munich and Boston, resulting in approximately 330 layoffs, as part of its integration strategy following the €2.7 billion acquisition earlier this year. The decision aligns with a focus on prioritizing R&D programs, particularly the delayed approval pathway for the oncology candidate pelabresib. This trend of post-acquisition job cuts has been observed across several major pharma companies in recent years.
Novartis is set to close the German biotech company Morphosys, resulting in the loss of 330 jobs. The decision, announced in November 2024, involves shutting down Morphosys sites in Germany and the U.S. by the end of 2025, with all portfolio activities being integrated into Novartis.
Novartis is set to close the German biotech company Morphosys, resulting in the loss of 330 jobs. The decision, announced in November 2024, involves shutting down Morphosys sites in Germany and the U.S. by the end of 2025, with all portfolio activities being integrated into Novartis.
Novartis is set to close the German biotech company Morphosys, impacting 330 jobs, as part of its strategy to integrate all portfolio activities into Novartis. The decision to shut down Morphosys sites in Germany and the U.S. by the end of 2025 was announced in November 2024.
Novartis is closing MorphoSys sites in the U.S. and Germany, resulting in 330 job losses, as part of a strategic shift following mixed trial results for the drug pelabresib. The company, which acquired MorphoSys for $2.9 billion, has delayed regulatory submission for the drug until at least 2027 due to the need for additional data. This move is part of a broader restructuring effort that has seen Novartis cut back significantly in recent years.
MorphoSys AG
Companies
| Symbol | MOR |
| Name | MorphoSys AG |
| Currency | USD |
| Sector | Health Care |
| IndustryGroup | Pharmaceuticals, Biotechnology & Life Sciences |
| Industry | Biotechnology |
| Market | NASDAQ Global Select |
| Country | Germany |
| State | |
| City | Planegg |
| Zipcode | 82152 |
| Website | http://www.morphosys.com |
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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