08:47 AM EST, 12/19/2024 (MT Newswires) -- (Updates with Novartis ( NVS ) statement throughout.)

Novartis ( NVS ) said Thursday it will close its MorphoSys sites in Germany and the United States by the end of 2025, impacting about 330 jobs.

The drugmaker said the decision is part of its strategic evaluation of its evolving research and development portfolio, focusing on prioritizing scientific expertise and resources for key programs.

It added that the closure is also influenced by the extended follow-up time required to determine the approval pathway for pelabresib, a treatment for myelofibrosis.

NVS shares were edging 0.6% higher in recent premarket activity.