Genmab Announced Earlier Today That Appeal Arbitrator In Its Second Arbitration Arising Under Its License Agreement With Janssen For Daratumumab Has Denied Genmab's Appeal
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Genmab A/S (GMAB) announced that its appeal in the second arbitration with Janssen Biotech, Inc. (a subsidiary of Johnson & Johnson, JNJ) over the daratumumab license agreement has been denied. The appeal was regarding claims for milestone payments and a new royalty term for the subcutaneous formulation of daratumumab, marketed as DARZALEX FASPRO in the U.S. The denial concludes the dismissal of Genmab's claims, which will not affect Genmab's 2024 financial guidance.
January 23, 2024 | 12:24 am
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POSITIVE IMPACT
Janssen Biotech, a subsidiary of Johnson & Johnson, has won the appeal in the arbitration with Genmab over the daratumumab license agreement, denying Genmab's claims for milestone payments and a new royalty term.
Johnson & Johnson's subsidiary Janssen's win in the arbitration may be seen as a positive outcome, potentially avoiding additional milestone payments and an extended royalty term. However, given the size of Johnson & Johnson, the financial impact of this individual arbitration result is likely to be minimal relative to the company's overall financials.
CONFIDENCE 80
IMPORTANCE 40
RELEVANCE 50
NEUTRAL IMPACT
Genmab's appeal in the arbitration with Janssen over daratumumab has been denied, concluding the dismissal of its claims for additional payments. This will not affect the company's financial guidance for 2024.
While the denial of the appeal is a negative outcome for Genmab, the company has indicated that this will not impact its financial guidance for the upcoming year. This suggests that the potential financial benefits from the claims were not factored into their future projections, or that the company has other revenue streams and strategies to mitigate this loss.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 80