MorphoSys unit AbD Serotec to increase sales activities in Europe and Asia

German biotechnology firm MorphoSys AG says that its research and diagnostic antibodies unit AbD Serotec will expand its sales organization in Dusseldorf, Germany, to support growth in continental and eastern Europe as well as in Asia. The expanded Dusseldorf 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,' he added.

According to MorphoSys' 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.