The closures follow Novartis’s acquisition of MorphyoSys earlier this year.
Novartis is closing down sites in Germany and Boston that were picked up in its $2.9 billion acquisition of MorphySys, Reuters reported Thursday. The move will result in layoffs affecting 330 jobs.
A spokesperson told Reuters that the sites in Munich and Boston will be exited by the end of 2025.
Novartis announced its intention to buy MorphoSys in February, boosting its oncology portfolio with the small molecule BET inhibitor pelabresib. The drug is currently in a Phase III trial in combination with Incyte’s Jakafi (ruxolitinib) in myelofibrosis patients who have not been previously treated with a JAK inhibitor.
Switzerland-based Novartis has been one of the most acquisitive pharmas this year, buying up four other companies, most recently early-stage neuromuscular gene therapy biotech Kate Therapeutics.
Besides M&A, Novartis has also been doing some licensing dealmaking. It announced on Wednesday that it will pay out $20 million upfront to BioAge to develop drugs to treat aging-related diseases. The deal could rise to $530 million long term based on achievement of certain research, development and commercial milestones.
At an R&D day last month, Novartis CEO Vas Narasimhan promised more deals in the sub-$5 billion range. Unlike its peers, Novartis is looking for early-stage science.
