MorphoSys divestment brings €53m to invest in pipeline
This article was originally published in Scrip
With the sale of its research and diagnostic antibody business AbD Serotec, MorphoSys will gain €53 million in cash to invest in its therapeutic pipeline. The company is off-loading the non-core business, which analysts at Nomura Code note has "struggled to grow sales beyond the €20 million mark, which may have been related to the company's limited scale and share of voice in the research and diagnostic antibody market", to industry major Bio-Rad.
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