Arzerra Disappoints in NHL, Putting Genmab on Shaky Ground
This article was originally published in The Pink Sheet Daily
Ofatumumab failed to live up to expectations in a Phase III NHL trial, meaning no milestone payment from partner GlaxoSmithKline and revised 2009 guidance.
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Cash-rich and product-poor pharmaceutical firms playing catch-up in large molecules have turned 2006 into a bumper year for dealmaking. Even so, Genmab AS's monster December deal with GSK for worldwide rights to the Phase III anti-CD20 antibody ofatumumab (HuMax-CD20), which includes a whopping $459 million in up-front cash and equity payments, seemed to catch analysts by surprise, beating even optimistic expectations
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