Edison Investment Research, a leading international investment research firm, announces the initiation of research coverage on the US-listed ADRs of MorphoSys (NASDAQ: MPSYY), a German biotech company developing human antibodies for therapeutic use.
The ADR initiation follows two landmark licensing deals struck with GlaxoSmithKline and Celgene that mark a transformation of the company. Edison's comprehensive report examines the investment merits of MorphoSys and derives a valuation of $1,895m, equivalent to $39.70/ADR. MorphoSys has three proprietary programs and 16 programs from antibody alliances in clinical development. It also has a 10-year alliance with Novartis. For the full report see: http://www.edisoninvestmentresearch.com/research/company/morphosys
The launch of ADR coverage on MorphoSys is part of a programme of ADR research initiations on foreign-domiciled, US-listed biotech companies, which are specifically tailored for US investors. Edison will continue to provide research coverage in parallel on the Frankfurt-listed shares of MorphoSys.
Edison provides research coverage on more than 130 healthcare companies in Europe, North America and Australia. Edison has pioneered a scientific, detail-oriented approach to analysing companies in the healthcare sector that is delivered in a concise and non-promotional manner. It aims to inform investors, while providing a realistic assessment of the competitive strengths and threats to key drug development programmes. All facts are carefully sourced and the analysis is underpinned by comprehensive and rigorous financial models. Edison's reports provide an overall company valuation without any specific stock recommendation.
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MorphoSys developed HuCAL, the most successful antibody library technology in the pharmaceutical industry. By successfully applying this and other patented technologies, MorphoSys has become a leader in the field of therapeutic antibodies, one of the fastest-growing drug classes in human healthcare. Together with its pharmaceutical partners, MorphoSys has built a therapeutic pipeline of more than 70 human antibody drug candidates for the treatment of cancer, rheumatoid arthritis and Alzheimer's disease, to name just a few. With its ongoing commitment to new antibody technology and drug development, MorphoSys is focused on making the healthcare products of tomorrow.