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German pharma company MorphoSys's finance head to step down

Reuters
·1-min read

BERLIN (Reuters) - German pharma company MorphoSys said its finance chief Sung Lee would leave the company for personal reasons in March 2023 and that the company was seeking a successor to Sung, who joined in February 2021.

The company suffered a major setback in November when an Alzheimer's drug candidate it was developing with Roche failed to slow the progress of the memory-robbing disease in two separate drug trials.

"We understand Sung's desire to go back to California and the importance of his personal obligations," said company chair Marc Cluzel.

(Reporting by Thomas Escritt; editing by Barbara Lewis)