Novartis says 330 jobs hit as it closes MorphoSys sites

ZURICH (Reuters) -Swiss pharmaceutical group Novartis (SIX:NOVN ) said on Thursday it was winding up MorphoSys sites in Germany and the United States, affecting 330 jobs.

Novartis had acquired MorphoSys at the beginning of the year and said the move was part of an evaluation of its organisational setup and stemmed from its evolving research and development (R&D)

"We have communicated our intention to exit the MorphoSys sites in Munich and in Boston by end of 2025," a spokesperson said in an emailed statement to Reuters after a report in WirtschaftsWoche magazine.



"Approximately 330 roles were impacted, and all individuals were already communicated in mid-November," added the spokesperson, saying the company was committed to supporting the affected employees.

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Source: Investing.com