Genmab Lands Potential $1.1B J&J Cancer Drug Deal

Law360, Washington (August 30, 2012, 2:20 PM EDT) -- Danish drugmaker Genmab A/S has licensed a multiple myeloma treatment to Johnson & Johnson subsidiary Janssen Biotech Inc. in a potential $1.1 billion development and commericalization deal, the companies announced Thursday.

Genmab forked over the rights to daratumumab in exchange for an upfront $55 million payment from Janssen and approximately $80 million stock investment from Johnson & Johnson Development Corp., in addition to $1 billion in development, regulatory and sales milestones that could come into play further down the line.

According to the deal terms, Janssen...
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