GNMSF - J&J's Janssen wins arbitration versus Genmab over royalty payments for Darzalex

Genmab (GMAB) said an arbitral tribunal has ruled in favor of Johnson & Johnson's (NYSE:JNJ) Janssen Biotech in both matters related to royalty payments under their license agreement related to cancer drug daratumumab. On the first issue, the tribunal determined by majority opinion that Janssen’s obligation to pay royalties to Genmab on sales of licensed product, in each applicable country, extends through the expiration or invalidation of the last-to-expire relevant Genmab-owned patent covering the product or use but not the relevant Janssen-owned patent. Denmark-based company said the relevant Genmab-owned issued U.S., European and Japanese patents will expire in the late 2020s and early 2030s. On the second issue the tribunal ruled by majority opinion that Janssen is permitted to continue reducing its royalty payments to Genmab (GMAB) as an offset against a share of Janssen’s royalty payments made to Halozyme Therapeutics (HALO). Janssen pays royalty to Halozyme for using Halozyme's enzyme technology used in the

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J&J's Janssen wins arbitration versus Genmab over royalty payments for Darzalex