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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