Genmab could lose portion of Darzalex royalties
Denmark’s Genmab (OMX: GEN) saw its shares drop over a tenth after it emerged the firm was locked in a legal battle over royalties for cancer drug daratumumab.
The firm has been receiving royalties from Janssen, part of US health care giant Johnson & Johnson (NYSE: JNJ), under the terms of a 2012 development deal.
While analysts had expected Genmab to continue receiving royalties for the drug, which is branded as Darzalex, through to 2035, a binding arbitration process could see the duration of payments reduced.
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