Group Management Report
In 2008, MorphoSys showed continued progress with regard to the expansion and advancement of its proprietary pipeline activities. The Company increased its investment in proprietary drug and technology development by 26 % year-on-year to € 7.7 million. The Company’s alliances within the pharmaceutical and biotechnology industry, including its largest collaboration with Novartis, have shown solid progress. The Research Antibodies segment AbD achieved a positive segment result for the first time, however, on the basis of lower than anticipated revenues. Total Group revenues were up by 16 % from the prior year to € 71.6 million and operating profit increased by 134 % to € 16.4 million.