Morphosys: 73% revenue rise in 1st half

German drugmaker MorphoSys AG says that, during the first six months of 2005, revenues soared 73% over the corresponding period last year to 15.4 million euros ($18.6 million), on the back of higher turnover from existing cooperations as well as through the achievement of collaboration milestones.

Gross profit amounted to 14.3 million euros versus 8.5 million euros in the first six months of the previous year. Other operating expenses amounted to 12.2 million euros vs 9.3 million euros and R&D costs rose to 6.8 million euros from 5.2 million euros, mainly from revenue increases on the firm's therapeutic antibody segment.

Sales, general and administrative expenses amounted to 4.9 million euros vs 3.5 million euros, and were impacted by the acquisition of the Biogenesis group in the UK and USA (Marketletter January 24).