AbD Serotec Expands Sales Office in Düsseldorf to Support Future Growth
AbD Serotec to Increase Sales Activities in Europe and Asia
MorphoSys AG (FSE: MOR; Prime Standard Segment, TecDAX) announced today that its research and diagnostic antibodies unit AbD Serotec will expand its sales organization in Düsseldorf to support growth in continental and eastern Europe as well as in Asia. Today’s official opening ceremony was performed by Friedrich G. Conzen, major of Düsseldorf.
Dr. Simon Moroney, Chief Executive Officer of MorphoSys Group, also attended along with Dieter Feger, Head of AbD Serotec. The expanded Düsseldorf office will coordinate global sales activities of AbD Serotec outside North, Central and South America.
“While we expect demand in our traditional markets to remain solid, we have identified new areas of growth potential, and are now planning to expand our sales outreach to increase our market share in eastern Europe and Asia, as well as in our core market here in western Europe.” commented Dieter Feger, Head of AbD Serotec. “Our plans to add a telemarketing sales force and expand our direct marketing efforts will act as central components of our growth strategy in these markets.”
According to MorphoSys’s financial guidance, AbD Serotec is expected to contribute roughly one quarter of total group revenues in 2009, driven by above-market growth rates, with an operating profit margin of up to 6%. MorphoSys expects the segment’s financial performance to improve further in 2010. More specific financial guidance for 2010 will be given at the Company’s full year 2009 results presentation on February 25th, 2010.
MorphoSys is an independent biotechnology company that develops novel antibodies for therapeutic, diagnostic and research applications. The Company’s HuCAL technology is one of the most powerful methods available for generating fully human antibodies. By successfully applying this and other proprietary technologies, MorphoSys has become a leader in the field of therapeutic antibodies, one of the fastest-growing drug classes in human health-care. Through its alliances with some of the world’s leading pharmaceutical companies, MorphoSys has created a pipeline of more than 60 drug candidates. The Company is expanding its drug pipeline by adding new partnered programs, and by building a portfolio of fully-owned therapeutic antibodies. For its proprietary portfolio, the Company is focused on the areas of oncology and inflammation. Its most advanced program MOR103, a first-in-class, fully human antibody against GM-CSF, is currently tested in a Phase Ib/IIa trial in rheumatoid arthritis patients. Via its business unit AbD Serotec, MorphoSys is expanding the reach of its technologies in the diagnostics and research markets. MorphoSys is headquartered in Munich, Germany and listed on the Frankfurt Stock Exchange under the symbol “MOR”. For further information, visit http://www.morphosys.com/
HuCAL®, HuCAL GOLD®, HuCAL PLATINUM® and RapMAT® are registered trademarks of MorphoSys AG
This communication contains certain forward-looking statements concerning the MorphoSys group of companies. The forward-looking statements contained herein represent the judgment of MorphoSys as of the date of this release and involve risks and uncertainties. Should actual conditions differ from the Company’s assumptions, actual results and actions may differ from those anticipated. MorphoSys does not intend to update any of these forward-looking statements as far as the wording of the relevant press release is concerned.
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