KUALA LUMPUR, Feb 11 (Bernama) -- Bursa Malaysia ended higher today as buying on selected blue chips continued, said a brokerage. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 8.85 points or 0.51 per cent to 1,756.39 from Tuesday’s close of 1,747.54. The barometer index opened 3.69 points higher at 1,751.23 before moving as low as 1,745.51 in early trade to as high as 1,757.15 during the mid-afternoon session. Market breadth was positive with gainers leading losers 575 to 474, while 549 counters were unchanged, 1,087 untraded and 11 suspended. Turnover expanded to 2.55 billion units valued at RM3.06 billion from yesterday’s 2.19 billion units valued at RM2.35 billion.
Swiss pharmaceutical giant Novartis announced plans to wind up operations at MorphoSys sites in Munich, Germany, and Boston, USA, by the end of 2025, affecting approximately 330 jobs.
Key Details
Acquisition Context:
- Novartis acquired MorphoSys earlier this year and is restructuring as part of an evaluation of its R&D setup.
Impact on Employees:
- Affected employees, approximately 330 roles, were notified in mid-November.
- Novartis has committed to supporting impacted individuals through the transition.
Official Statement:
- "We have communicated our intention to exit the MorphoSys sites by end of 2025," said a Novartis spokesperson in a statement to Reuters.
- The decision reflects Novartis' evolving research and development priorities.
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