MorphoSys Takes $252.1m Impairment Charge As It Slims Down R&D
The company will close down early-stage research programs brought under its wing through last year’s acquisition of Constellation Pharmaceuticals.
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The deal will help MorphoSys focus on lifting lackluster Monjuvi sales, and on bringing its promising myelofibrosis candidate pelabresib to market.
The German biotech had already hinted at possibly expanding through M&A, and Constellation was viewed as an attractive acquisition target.
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