The German biotech company Morphosys has reduced losses in the third quarter of 2012 due to lower research spending to EUR 0.4 million from EUR 3.4 million a year earlier.
However, the company – with its headquarters in Martinsried – continued in the period July to September with EUR 15.9 million in revenues, seven per cent less than a year ago. The reason for the decline in sales, which is especially evident in view of the 9-month development (- 41.6%), were sluggish collaborations with pharmaceutical companies.
Morphosys will this year put about EUR 20 to 25 million into its own research and development projects. Last year the figure was EUR 36.7 million.
Evotec’s competitor is one of the world’s leading biotechnology companies focusing on human antibodies. Last year, Morphosys had achieved well thanks to a high milestone payment of the largest cooperation partner Novartis, who generated consolidated revenues of more than EUR 100 million.