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MorphoSys to Host Conference Call to Discuss New Strategic Alliance With Novartis
MARTINSRIED, Germany, Dec. 3, 2007 (PRIME NEWSWIRE) -- MorphoSys AG (Frankfurt:MOR) (Prime Standard Segment) yesterday announced the formation of one of the most comprehensive strategic alliances in the discovery and development of biopharmaceuticals with Novartis. The deal is aimed at establishing a pipeline of innovative drugs, and combines MorphoSys's and Novartis's research, development, manufacturing and commercialization capabilities.
MorphoSys Financial Guidance 2007 Under Review
MARTINSRIED, Germany, Dec. 2, 2007 (PRIME NEWSWIRE) -- MorphoSys AG (Frankfurt:MOR) (Prime Standard Segment, TecDAX) today announced that its financial guidance for the full-year 2007 is presently under review due to the ongoing evaluation of all financial implications related to the newly signed collaboration agreement with Novartis. In conjunction with the successful execution of the Novartis agreement, MorphoSys expects to incur one-off advisory expenses of up to EUR6 million, which will be paid in 2007. Furthermore, in accordance with the new Novartis agreement, MorphoSys has decided not to extend its ongoing collaborations with Bayer-Schering and Centocor, which are due to expire in December 2007. The current active therapeutic antibody development programs with these two partners will nonetheless continue. The impact of the aforementioned and other related effects on revenues and expenses has not been considered in the financial guidance given to date for the year 2007.