Is big pharma falling back in love with small molecules?

In June, Morphosys AG acquired Constellation Pharmaceuticals Inc. in a deal worth $1.7 billion in which the German biotech monetizes a royalty from a big-selling antibody, spending the lump sum on research into small-molecule BET inhibitors. It’s a bold move and one that perhaps demonstrates a renewed interest in small-molecule drugs after a period when antibody-based molecules have been the dominant force in the market for branded drugs.