MorphoSys - AGM 22 May 2019
General: MorphoSys is one of the world’s leading biotechnology companies focusing on fully human antibodies. It's Partnered Discovery segment business applies the Company's proprietary technologies to the research, development and optimisation of therapeutic antibody drug candidates in partnerschips with pharmaceutical and biotechnology companies. In the second segment, Proprietary Development, MorphoSys develops innovative proprietary antibody products. MorphoSys's scientists concentrate on indications such as inflammatory and autoimmune diseases, as well as cancer and infectious diseases.
As of 26 April 2019, FMR held between 5% and 10% of the Company's shares.
In financial year 2018, Group revenues increased by 14.4% to EUR 76.4m and EBIT increased by 12.6% to EUR -59.1m. For the financial year 2019, MorphoSys expects Group revenues in the range of EUR 43 to 50m. R&D expenses for proprietary drug development are expected to rise to EUR 95 to 105m. The Company expects earnings before interest and taxes (EBIT) in a range of between EUR -127 to -137m.
Item 4: PricewaterhouseCoopers, Munich, is proposed as auditor for the current financial year. Ratio of non-audit/audit fees was 171.79% during the year under review and 105.89% over a three-year aggregate period which exceeds our guidelines. We therefore recommend opposing the proposal.
Item 8: The Company proposes amendments to the remuneration of the Supervisory Board. Based on the figures for financial year 2018, the amendments would have resulted in an increase in the fixed remuneration by 15% which we consider being excessive. We recommend opposing this proposal.
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.
Founded in 1995, Proxinvest is an independent proxy firm supporting the engagement and proxy analysis processes of investors. Proxinvest mission is to analyse corporate governance practices and resolutions proposed at general meetings of listed firms.
Proxinvest main services are :
- Proxy reports
- Definition and monitoring of client customized voting guidelines
- Corporate Governance Data and Rating
- Thematic research
- Engagement support
Proxinvest has been a pioneer and champion of good corporate governance and has grown into a recognised expert in the field.
Proxinvest is independently-owned and only works for investors : Proxinvest does not provide consulting services to the companies it covers, mitigating related risks to its clients and ensuring the independence of our analysis. As a result Proxinvest is able to take a robust, independent, engaged and unconflicted view of the companies in which our clients invest.
As Managing Partner of Expert Corprate Governance Service Ltd (ECGS), Proxinvest has built a large network of corporate governance experts to support clients in corporate governance analysis worldwide.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.