The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Chemicals And Pharamceuticals Manufacture Of Basic Pharmaceutical Products And Pharmaceutical Preparations 21 - Manufacture Of Basic Pharmaceutical Products And Pharmaceutical Preparations
330 jobs Number of planned job losses
Announcement Date
19 December 2024
Employment effect (start)
Foreseen end date
31 December 2025
Description
German sites of pharmaceutical company MorphoSyS as well as its US-location will be closed by the end of 2025.
At the start of 2024, Swiss company Novartis acquired the German biotech firm MorphoSys. However, Novartis later confirmed in a news article that the production site would be closing, affecting approximately 330 employees. News articles cite development difficulties with one of MorphoSys researched drugs as a reason for Novartis' decision to shut down the sites.
According to the news, Novartis recognised an impairment loss of 800 million dollars linked to the MorphoSys' takeover.
Eurofound (2024), MorphoSys, Closure in Germany, factsheet number 202130, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/202130.
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