Genmab Achieves $75M Milestone in Collaboration with Janssen

Genmab to receive milestone payment of USD 75 million in DARZALEX collaboration

Milestone triggered by sales of DARZALEX reaching USD 2 billion in a calendar year

Genmab A/S (Nasdaq Copenhagen: GEN) announced today that it has achieved a USD 75 million sales volume milestone in its DARZALEX (daratumumab) collaboration with Janssen Biotech, Inc. The milestone was triggered by confirmation by Janssen that sales of DARZALEX reached USD 2 billion in the calendar year of 2018. In August 2012, Genmab granted Janssen an exclusive worldwide license to develop, manufacture and commercialize DARZALEX.

We are very pleased that as the launch continues, DARZALEX has become available to so many more multiple myeloma patients in need, which is reflected in the achievement of this sales milestone. With the potential for further indications to be approved in the future, we look forward to even greater growth in the coming years, said Jan van de Winkel, Ph.D., Chief Executive Officer of Genmab.

The milestone payment was included in the financial guidance issued by Genmaboriginally on February 21, 2018 and then reiterated in subsequent quarterly financial reports, most recently on November 14, 2018, and as such there is no change to the companys financial guidance for 2018.

https://www.marketscreener.com/GENMAB-1412914/news/Genmab-Achieves-USD-75-Million-Sales-Milestone-in-DARZALEX-daratumumab-Collaboration-with-Jansse-27844232/