It's been poor business as of late, to put it mildly, being hearing-aid manufacturer WS Audiology, which following the major merger of Danish Widex and EQT-owned Sivantos from Germany – which became a reality in 2019 – could otherwise claim the title as the world's third-largest hearing-aid supplier.
In 2018/2019, the first full fiscal year after the merger, the Copenhagen-headquartered company booked an operating deficit of DKK 2.14bn (USD 350m), and on Thursday the group presented its annual report for fiscal 2019-'20, showing another big loss of DKK 1.8bn and 11 percent in negative organic growth.
More from MedWatch
In 2015, Genmab partnered with relatively unknown biotech firm Biontech. Reflecting on how far Genmab has come since, CEO Jan van de Winkel is still confident that partnerships, rather than acquisitions, are the way forward. If it had acquired Biontech at the time, the CEO speculates Genmab may have put a stop to other activities – including the Covid-19 vaccine efforts that went on to save millions of lives. This and fairness are worth remembering as biotech firms are increasingly strapped for cash, van de Winkel reflects.