FRANKFURT 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)