June 10, 2020 / 10:11 AM / a month ago

BRIEF-Genmab And AbbVie Announce Broad Oncology Collaboration

June 10 (Reuters) - Genmab A/S:

* REG-GENMAB AND ABBVIE ANNOUNCE BROAD ONCOLOGY COLLABORATION

* REG-GENMAB AND ABBVIE ANNOUNCE BROAD ONCOLOGY COLLABORATION

* GENMAB AND ABBVIE ENTERED INTO A BROAD COLLABORATION TO JOINTLY DEVELOP AND COMMERCIALIZE THREE OF GENMAB’S NEXT-GENERATION BISPECIFIC ANTIBODY PRODUCTS, INCLUDING EPCORITAMAB

* COMPANIES ESTABLISH A DISCOVERY RESEARCH COLLABORATION TO CREATE ADDITIONAL DIFFERENTIATED ANTIBODY THERAPEUTICS FOR CANCER

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

* AS A RESULT OF THIS AGREEMENT, GENMAB IS IMPROVING ITS FINANCIAL GUIDANCE FOR 2020.

* WE EXPECT OUR 2020 REVENUE TO BE IN RANGE OF DKK 9,100 - DKK 9,500 MILLION, AN INCREASE OF DKK 4,350 MILLION COMPARED TO OUR PREVIOUS GUIDANCE.

* WE ANTICIPATE OUR 2020 OPERATING EXPENSES WILL CONTINUE TO BE IN RANGE OF DKK 3,850 - 3,950 MILLION

* GENMAB A/S - WE NOW EXPECT OUR OPERATING INCOME TO BE APPROXIMATELY DKK 5,200 TO DKK 5,600 MILLION IN 2020.

* FINANCIAL GUIDANCE ASSUMES THAT NO SIGNIFICANT NEW AGREEMENTS ARE ENTERED INTO DURING 2020 THAT COULD MATERIALLY AFFECT RESULTS. Source text for Eikon: Further company coverage: (Gdansk Newsroom)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below