Swiss pharma giant Novartis to close biotech firm Morphosys

Novartis is closing the German biotech company Morphosys, acquired earlier this year, according to German press reports confirmed by the Basel-based pharmaceutical giant. Hundreds of jobs are affected. Novartis decided in November 2024 to close the Morphosys sites in Germany and the United States by the end of 2025 and integrate all portfolio activities into the company, according to an article in the German magazine WirtschaftsWoche on Thursday. Around 330 jobs could be lost. Contacted by the AWP news agency, the Basel-based pharmaceutical giant confirmed this information. +Get the most important news from Switzerland in your inbox Novartis acquired Morphosys earlier this year for a total of €2.7 billion (CHF2.5 billion). With this acquisition, the Basel-based company was hoping to gain access to Pelabresib, a treatment in development for myelofibrosis, a potentially fatal chronic bone marrow disease. But concerns have recently arisen about the efficacy and safety of this ...