Genmab sells US manufacturing facility to Baxter

1 March 2013

Denmark’s Genmab (OMX: GEN) has announced the signing and closing of an agreement with Baxter Healthcare Corp for the sale of Genmab's non-plasma-derived antibody manufacturing facility, located in Brooklyn Park, Minnesota, USA, for $10 million.

Under the terms of the agreement Genmab receives the $10 million in cash and Baxter acquires the facility, land and equipment at the Brooklyn Park site. Baxter will offer employment to the 23 employees currently supporting the facility.

Construction of this mammalian cell culture manufacturing facility was completed in 2004 for $200 million and was designed to produce monoclonal antibodies at commercial scale. The facility may also be utilized for the production of cell culture-based vaccines. Genmab had previously disclosed that the facility was up for sale due to consolidation of its manufacturing operations.

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