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Profitable MorphoSys Proves Value of Technology Partnership Model

 
• By Melanie Senior

A milestone payment from long-time partner Novartis helped German antibody company MorphoSys report record revenues, supporting a 23% increase in R&D spend without the need to tap investors.

It’s not all bad news from Europe. While much of the biotech sector struggles amid the collapse in investor confidence and illiquid public markets, compounded by a currency crisis and ongoing political turmoil, German antibody company MorphoSys AG bucks the trend. Already unusual in being profitable thanks to its panoply of technology partnerships, the company on March 1 it reported record revenues of over €100 million ($133 million) for 2011, up 16%.

Much of the increase came thanks to a one-off payment from long-time partner Novartis AG; without that, research and...

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