Morphosys sees over $1 billion in sales from MOR 103: CEO

FRANKFURT Fri Sep 21, 2012 5:34am EDT

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FRANKFURT (Reuters) - German biotech company Morphosys expects its upcoming rheumatism drug MOR 103 to generate sales of more than $1 billion per year, if it succeeds in getting marketing approvals, its chief executive told Reuters.

"The market for rheumatism medications has a volume of $15 billion to $20 billion annually and there are a few ones which have sales of several billions of dollars," Simon Moroney said in an interview published on Friday.

MOR 103 has proven to be an effective medicament in a Phase 1b/2a-study and Morphosys will be looking for a partner to develop it further, he said, adding several major pharmaceutical companies have already expressed interest.

($1 = 0.7721 euros)

(Reporting by Andreas Kroener; Writing by Marilyn Gerlach)

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