BRIEF—Genmab gets $75 million milestone

Danish biotech Genmab says that it has achieved a $75 million sales volume milestone in its Darzalex (daratumumab) collaboration with Janssen Biotech, a subsidiary of US healthcare giant Johnson & Johnson.

The milestone was triggered by confirmation by Janssen that sales of Darzalex, a treatment for multiple myeloma, reached $2 billion in the calendar year of 2018.

In August 2012, Genmab granted Janssen an exclusive worldwide license to develop, manufacture and commercialize Darzalex.

“We are very pleased that as the launch continues, Darzalex has become available to so many more multiple myeloma patients in need, which is reflected in the achievement of this sales milestone. With the potential for further indications to be approved in the future, we look forward to even greater growth in the coming years,” said Jan van de Winkel, chief executive of Genmab.

The milestone payment was included in the financial guidance issued by Genmab originally on February 21, 2018 and then reiterated in subsequent quarterly financial reports, most recently on November 14, 2018, and as such there is no change to the company’s financial guidance for 2018.