Genmab is constantly on the lookout for acquisition opportunities and has the necessary muscle to make new deals, says CEO Jan van de Winkel. 

Genmab recently signed an agreement to acquire American Profoundbio outright for DKK 12.5bn (USD 1.8bn). 

”We have the capacity for further acquisitions if we see long-term value in complementing or supporting our pipeline”. 

”So we are continuously looking for potential opportunities. We will only strike, as we did today, when the acquisition opportunities meet very high standards. These must be drugs that are either best-in-class or first-in-class,” Jan van de Winkel said on Wednesday at a teleconference. 

Genmab’s focus is on drugs for the treatment of cancer and autoimmune diseases. 

The money for the acquisition of Profoundbio will come from Genmab’s cash balance. 

At the end of 2023, this amounted to almost DKK 14.9bn (USD 2.17bn). In addition, Genmab had securities worth DKK 13.3bn (USD 1.9bn) at the end of the year.

(Translated using DeepL with additional editing by Catherine Brett)