In a move that follows an increasingly common trend in biopharma M&A, Novartis is shedding sites and staffers from the German cancer biotech it acquired earlier this year.
Novartis confirmed Thursday that it’s closing down MorphoSys sites in Munich and Boston and planning around 330 layoffs. The company made the decision in November as it looks to “integrate all portfolio activities into Novartis,” a spokesperson from the Swiss pharma said over email.
https://www.fiercepharma.com/pharma/novartis-shutter-2-morphosys-sites-lay-330-staffers-post-buyout-consolidation