FRANKFURT Oct 24 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.