MorphoSys AG Reports Strong Results for First Quarter 2009

MorphoSys AG (FSE: MOR; Prime Standard Segment; TecDAX) today
announced its financial results for the three months ended March 31,
2009 according to International Financial Reporting Standards
(IFRS). Group revenues increased by 17 % to EUR 19.1 million (Q1
2008: EUR 16.3 million) and operating profit amounted to EUR 4.2
million (Q1 2008: EUR 4.1 million). Net profit increased by 6 % to
EUR 3.5 million (Q1 2008: EUR 3.3 million). At March 31, 2009
MorphoSys's cash position was EUR 136.1 million (December 31, 2008:
EUR 137.9 million).

Highlights of the First Quarter of 2009:
* Underscoring its plans to expand and broaden its proprietary
pipeline, MorphoSys selected two new targets as the basis for the
therapeutic antibody programs MOR203 and MOR205, both of which are
in oncology.
* MorphoSys substantially strengthened its management in two
positions by appointing Dr. Ulrich Moebius as VP and Head of
Preclinical Development & Project Management and Dieter Feger as
SVP and Head of the AbD Serotec segment of MorphoSys.
* HuCAL, the Company's core technology, received extended patent
protection from the European Patent Office. The newly granted
patent captures the technology's modular design at the DNA level,
providing solid product claim protection throughout Europe.
* Novartis advanced the HuCAL-based antibody program BHQ880 into a
phase 1/2 combination study.
* MorphoSys's partnered pipeline increased to 58 therapeutic antibody
programs in total (compared to 55 at the beginning of the year), of
which four are currently in clinical development, 31 are in
preclinical development and 23 are in research.

"We continue to make significant progress in both operating segments,
as evidenced by the highlights of this quarter", commented Dave
Lemus, Chief Financial Officer of MorphoSys AG. "Moreover, we also
continue to increase substantially our R&D investment in proprietary
antibody therapeutics, and thereby creating sizeable future value in
the form of a larger, and more mature, proprietary product pipeline".
Financial Review for the First Three Months of 2009 (IFRS):
Group revenues for the first three months of 2009 amounted to
EUR 19.1 million (Q1 2008: EUR 16.3 million), an increase of 17 %
over the prior year. Revenues arising from the Therapeutic
Antibodies segment accounted for 75 % or EUR 14.3 million of the
total (Q1 2008: EUR 12.0 million), while the AbD Research Antibodies
segment generated 25 % or EUR 4.9 million of total revenues (Q1 2008:
EUR 4.3 million). Measured at constant foreign exchange rates,
revenues in the Therapeutic Antibodies segment would have amounted to
EUR 14.2 million while revenues in the AbD segment would have
remained unchanged. MorphoSys's overall revenue growth was driven
primarily by higher levels of funded research, licensing fees and
success-based revenues in the Therapeutic Antibodies segment as well
as increased sales across the AbD segment.

Total operating expenses for the first three months of 2009 increased
by 22 % to EUR 14.9 million (Q1 2008: EUR 12.2 million). The change
in operating expenses was mainly due to higher investment in research
and development which rose by 60 % to EUR 8.5 million (Q1 2008: EUR
5.3 million). This increase was partly offset by a decrease of
sales, general and administrative expenses to EUR 4.8 million (Q1
2008: EUR 5.2 million) while cost of goods sold remained unchanged at
EUR 1.7 million. Stock-based compensation expenses are embedded in
COGS, S,G&A and R&D expenses and remained unchanged at EUR 0.3
million.

Total operating profit for the first three months of 2009 amounted to
EUR 4.2 million (Q1 2008: EUR 4.1 million). The result for the
Therapeutic Antibodies segment amounted to EUR 5.5 million (Q1 2008:
EUR 6.1 million). The AbD segment result amounted to EUR 0.6 million
(Q1 2008: EUR 0.04 million). Unallocated corporate costs in the
first quarter of 2009 amounted to EUR 1.9 million (Q1 2008: EUR 2.1
million).

For the first three months of 2009, non-operating income (excluding
tax expenses) amounted to EUR 0.9 million (Q1 2008:
EUR 0.6 million). Profit before taxes amounted to EUR 5.1 million
(Q1 2008: EUR 4.7 million). The Company reported income tax expenses
for the first three months of 2009 in the amount of EUR 1.6 million
(Q1 2008: EUR 1.4 million).

Net profit for the first three months of 2009 amounted to EUR 3.5
million compared to a net profit of EUR 3.3 million in the same
period of the previous year. The resulting diluted earnings per
share for the first quarter of 2009 amounted to EUR 0.16 (Q1 2008:
Diluted earnings per share of EUR 0.15).

As of March 31, 2009, the Company held EUR 136.1 million in cash,
cash equivalents and marketable financial assets, compared to a
balance of EUR 137.9 million on December 31, 2008. Cash outflow from
operations in the first three months of 2009 amounted to
EUR 1.7 million (Q1 2008: cash inflow of EUR 4.0 million). The
number of issued shares at March 31, 2009 was 22,492,287, compared to
22,478,787 shares as of December 31, 2008.

Financial Outlook for 2009:
MorphoSys re-confirmed its financial guidance for 2009 as previously
communicated in February 2009. The Company anticipates total group
revenues between EUR 80 million and EUR 85 million, and an operating
profit of EUR 8 million to EUR 11 million. In line with its plans to
expand the Company's proprietary pipeline, MorphoSys anticipates
making investments in technology and product development of between
EUR 18 million and EUR 20 million, compared to EUR 7.7 million in the
previous year.

Telephone Conference:
MorphoSys will hold a public conference call today at 02:00 p.m. CET
(1:00 p.m. GMT, 8:00 a.m. EDT) to present the Q1 Results 2009 and
report on current developments.
Dial-in number for the Conference Call (listen-only):
Germany: +49 (0) 69 710491462
For U.K. residents: +44 (0) 1212 604860
For U.S. residents: +1 (1) 866 347 1957

Please dial in 10 minutes before the beginning of the conference.
Approximately two hours after the press conference, an audio replay
of the conference will be available on http://www.morphosys.com.

The complete 1st Interim Report 2009 (January - March) is available
on our website: http://www.morphosys.com/FinancialReports

To further improve the online presence, the 2009 quarterly reports
will be published not only in print form and as a PDF file, but also
as HTML versions.

For further information please contact: Dr. Claudia Gutjahr-Löser,
Head of Corporate Communications & Investor Relations, Tel: +49 (0)
89 / 899 27-122, gutjahr-loeser@morphosys.com or Mario Brkulj, Senior
Manager Corporate Communications & Investor Relations, Tel: +49 (0)
89 / 899 27-454, brkulj@morphosys.com

About MorphoSys:
MorphoSys is a publicly traded biotechnology company focused on the
generation of fully human antibodies as a means to discover and
develop innovative antibody-based drugs against life-threatening
diseases. MorphoSys's goal is to establish HuCAL as the technology of
choice for antibody generation in research, diagnostics and
therapeutic applications. The Company currently has therapeutic and
research alliances with the majority of the world's largest
pharmaceutical companies including Boehringer Ingelheim,
Centocor/Johnson & Johnson, Novartis, Pfizer and Roche. Within these
partnerships, more than 50 therapeutic antibody programs are ongoing
in which MorphoSys participates through exclusive license and
milestones payments as well as royalties on any end products.
Additionally, MorphoSys is active in the antibody research market
through its AbD Serotec business unit. The business unit has
operations in Germany (Munich), the U.S. (Raleigh, NC) and U.K.
(Oxford). For further information please visit
http://www.morphosys.com/

HuCAL®, HuCAL GOLD®, HuCAL PLATINUM® and RapMAT® are registered
trademarks of MorphoSys AG

This communication contains certain forward-looking statements
concerning the MorphoSys group of companies. The forward-looking
statements contained herein represent the judgment of MorphoSys as of
the date of this release and involve risks and uncertainties. Should
actual conditions differ from the Company's assumptions, actual
results and actions may differ from those anticipated. MorphoSys does
not intend to update any of these forward-looking statements as far
as the wording of the relevant press release is concerned.

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