HALO - Genmab seeks $405M award under new arbitration with J&J over cancer drug

Danish biotech firm Genmab A/S (GMAB) said on Thursday it had begun a new arbitration and was seeking an award of $405M under its license agreement with Johnson & Johnson's (JNJ) unit Janssen Biotech for cancer drug, Darzalex. Genmab is locked in a legal battle with JNJ over royalty payments for the blockbuster drug to treat multiple myeloma. The dispute started in September 2020 after Johnson & Johnson scaled back its royalty payments to Genmab. The tribunal in April had ruled in favor of JNJ on the question as to whether Genmab is required to share in Janssen’s royalty payments to Halozyme Therapeutics (HALO), which supplies the enzyme technology for Darzalex injections, which is marketed as Darzalex Faspro in the United States. The tribunal had based its ruling on the finding that Darzalex Faspro constitutes a new licensed product under the license agreement, Genmab said. In the new arbitration, Genmab is seeking an award of $405M plus

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Genmab seeks $405M award under new arbitration with J&J over cancer drug