MorphoSys' net income falls amid higher costs

German synthetic antibody specialist MorphoSys AG says that, in the nine months ended September 30, 2007, its operating profit amounted to 6.9 million euros ($9.9 million) versus 7.8 million in the comparable period the year before, while group revenues increased 13% to 44.1 million euros.

Income arising from the Therapeutic Antibodies unit totaled 9.2 million euros, or 66% of total group income, as the AbD segment contributed 14.9 million euros, 34% of the total.

During the period, MorphoSys achieved net income of 4.9 million euros vs 6.1 million euros, while diluted net income per share reached 0.68 vs 0.93, as total operating expenses amounted to 37.2 million euros vs 31.2 million euros.