Morphosys raises 2013 profit expectations on cancer programme
FRANKFURT Oct 24 (Reuters) - German biotech company Morphosys raised its profit expectations for this year again due to higher revenues and lower costs at its cancer treatment alliance with U.S. partner Celgene.
Morphosys now expects earnings before interest and taxes (EBIT) of between 7 million euros ($9.7 million) and 10 million euros, after previously predicting EBIT of 2 million euros to 6 million euros, it said on Thursday after stock markets closed.
Revenues will come in at the upper end of the predicted range of 74 million to 78 million euros, it said.
- Air strike kills 15 civilians in Yemen by mistake: officials
- North Korea executes leader's powerful uncle in rare public purge |
- Twitter backtracks on block feature after users revolt
- Insight: In Yemen, al Qaeda gains sympathy amid U.S. drone strikes
- Pope attacks mega-salaries and wealth gap in peace message