Janssen prevails in Darzalex dispute with Genmab
Danish firm Genmab (CPH: GMAB) was trading nearly 4% lower on Friday afternoon after the company lost out in a dispute with the Johnson & Johnson (NYSE: JNJ) subsidiary Janssen.
Genmab announced that there had been an award in the binding arbitration of two matters arising under its license agreement with Janssen relating to daratumumab, a multiple myeloma drug branded as Darzalex that had global sales exceeding $6 billion last year.
The arbitral tribunal issued an award on Thursday, deciding both issues in favor of Janssen, although Genmab has the time-limited right to appeal and is currently considering its options.
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