KUALA LUMPUR, June 18 (Bernama) -- Bursa Malaysia’s key index finished marginally higher, supported by strong buying interest in consumer-related counters, amid mixed performance across regional markets. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 1.40 points, or 0.08 per cent, to 1,711.39 from Tuesday's close of 1,709.99. The key index opened 12.36 points firmer at 1,722.35 and moved between 1,711.31 and 1,722.63 throughout the session. Market breadth was negative, with losers leading gainers 678 to 493, while 549 counters were unchanged, 1,016 untraded and 34 suspended. Turnover increased to 4.50 billion units worth RM3.45 billion from 3.93 billion units worth RM3.45 billion on Tuesday.
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.
Comments
Post a Comment