07:47 AM EST, 12/19/2024 (MT Newswires) -- Novartis ( NVS ) will wind down MorphoSys sites in Germany and the US, affecting about 330 jobs, Reuters reported Thursday, citing the company.

The report said the decision follows Novartis' ( NVS ) acquisition of MorphoSys earlier this year and is part of an ongoing evaluation of its organizational structure and research and development strategy.

A Novartis ( NVS ) spokesperson told Reuters that the company intends to exit the MorphoSys sites in Munich and Boston by the end of 2025. The spokesperson added that employees were informed of the changes in mid-November.

Novartis ( NVS ) did not immediately respond to MT Newswires' request for comment.

NVS shares were up 0.9% in recent premarket activity.

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