MorphoSys AG : FY 2023 results are a non-event – closing of Novartis takeover still expected in H1 2024
>FY 2023 results in line with expectations - Following the takeover bid by Novartis and the planned sale of tafasitamab to Incyte, 2023 figures are of only minor importance.Group sales of € 238.3m (-14%) were in line with our expectations (€240m) and the consensus (Vara: €240.5m). Monjuvi sales in the US were flat y-o-y at € 85m, exactly in line with our forecasts and slightly off the consensus (€ 85.4m). Operating losses came to €-252.5m (vs €-220.7 in 2022), s...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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