KUALA LUMPUR, Dec 5 (Bernama) -- Bursa Malaysia closed lower on Friday amid mixed regional market performance as investors turned cautious over a possible rate hike by the Bank of Japan (BOJ) and upcoming US economic data that may influence the Federal Reserve’s (Fed) interest rate decision next week. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) pared most earlier losses to settle 4.55 points easier, or 0.28 per cent, to 1,616.52 from Thursday’s close of 1,621.07. The benchmark index, which opened 0.37 of-a-point lower at 1,620.70, moved between 1,609.67 and 1,621.25 throughout the day. The broader market was negative, with decliners outpacing advancers 604 to 439. A total of 550 counters were unchanged, 1,151 untraded, and 18 suspended. Turnover declined to 3.17 billion units worth RM2.24 billion from 4.48 billion units worth RM2.75 billion yesterday. Rakuten Trade Sdn Bhd vice-presiden...
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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