Mor­phoSys sends its Con­stel­la­tion drug work to Ger­many, shut­ter­ing US R&D and tak­ing a $250M hit in re­or­ga­ni­za­tion

When Mor­phoSys swooped in with a $1.7 bil­lion deal to buy Con­stel­la­tion Phar­ma­ceu­ti­cals last year, then CEO Ji­gar Raythatha paid trib­ute to the near­ly 200 staffers who had been work­ing on every­thing from dis­cov­ery through late-stage work. To­day, though, the Ger­man com­pa­ny said the on­ly thing it wants to keep in the deal is in the clin­ic, and it’s ex­port­ing that work to Eu­rope af­ter shut­ter­ing every­thing else.

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