MedWatch

Genmab value drops by over USD 1.5bn after royalties defeat

After a ruling against Genmab encompassing two different royalty issues with partner Janssen, the market value of the firm has dropped by DKK 10.8bn (USD 1.58bn).

Photo: Tuala Hjarnø / Genmab / PR

Since trading opened on Friday, Genmab’s market value has dropped by DKK 10.8bn (USD 1.58bn), as news broke that arbitrators had ruled in Janssen’s favor in a royalties dispute between the two firms.

One of the issues concerned lost royalty incomes, which US-based Janssen had been withholding from Genmab in order to pay royalties to Halozyme Therpeutics since 2020. Halozyme provided the technology to allow faster treatments with Darzalex in a new product called Darzalex Faspro.

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