MorphoSys AG : MOR106 deal with Novartis; 2018 outlook upgraded; TP raised to € 110
>MOR106 exclusively partnered to Novartis - MorphoSys (MOR) and Galapagos NV have entered into a worldwide agreement with Novartis Pharma AG to develop and commercialize their joint program MOR106. MOR has raised its 2018 outlook. Under the terms of the agreement, the parties will cooperate to broaden significantly the existing development plan for MOR106. Novartis will exclusively hold all rights for commercialization of any products resulting from the signed agreeme...MorphoSys is engaged in development and commercialization of antibodies for therapeutic applications. Co. operates in two segments: Partnered Discovery, which operates therapeutic development programs for drug candidates in cooperation with biotechnology and pharmaceutical companies; and Proprietary Development, which is engaged in the development of therapeutic antibodies in the area of inflammatory disease and oncology on a proprietary basis. As of Dec 31 2013, Co.'s proprietary antibody compounds in clinical trials included MOR103 in the areas of rheumatoid arthritis and multiple sclerosis; MOR202 in the field of multiple myeloma; and MOR208 in the field of malignant B-cell diseases.
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