June 10, 2020 / 10:11 AM / 23 days ago

BRIEF-AbbVie And Genmab Announce Broad Oncology Collaboration

June 10 (Reuters) - Abbvie Inc:

* ABBVIE AND GENMAB ANNOUNCE BROAD ONCOLOGY COLLABORATION

* ABBVIE - TO PAY GENMAB AN UPFRONT PAYMENT OF $750 MILLION WITH TOTAL POTENTIAL MILESTONE PAYMENTS OF UP TO $3.15 BILLION

* ABBVIE - CO, GENMAB ENTERED BROAD COLLABORATION TO JOINTLY DEVELOP & COMMERCIALIZE 3 OF GENMAB’S NEXT-GENERATION BISPECIFIC ANTIBODY PRODUCTS

* ABBVIE- CO, GENMAB ESTABLISH DISCOVERY RESEARCH COLLABORATION TO CREATE ADDITIONAL DIFFERENTIATED ANTIBODY THERAPEUTICS FOR CANCER

* ABBVIE - FOR EPCORITAMAB, COS TO SHARE COMMERCIAL RESPONSIBILITIES IN U.S., JAPAN, WITH ABBVIE RESPONSIBLE FOR FURTHER GLOBAL COMMERCIALIZATION.

* ABBVIE- GENMAB IS ELIGIBLE TO RECEIVE UP TO $2.0 BILLION IN OPTION EXERCISE AND SUCCESS-BASED MILESTONE PAYMENTS

* ABBVIE - GENMAB TO GET TIERED ROYALTIES BETWEEN 22% AND 26% ON NET SALES FOR EPCORITAMAB OUTSIDE U.S. AND JAPAN

* ABBVIE- EXCEPT FOR ROYALTY-BEARING SALES, PARTIES SHARE IN PRE-TAX PROFITS FROM SALE OF PRODUCTS ON A 50:50 BASIS Source text for Eikon: Further company coverage:

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