Genmab — Februar 2017
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er lidt mere nervøs for ham "japaneren", de lige har ansat fra Janssen. Hvordan passer det lige ind??
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JVW nævnte det i indledninge
n i dag -
A few comments: We are in my view looking at an acceptable guidance which seems to be well in line with what could reasonably be expected given the circumstances.
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What is more interesting is that Genmab now specifies why the milestone of ”entering commercial partnerships” wasn't fully achieved in 2016. The company kindly informs us that the aim was to enter at least 2 commercial agreements meanwhile only one (minor) was landed (with Gilead)
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he targeted milestone of ”commercial" agreements is unfortunately not being reiterated for 2017. Genmab is now merely expecting ”technology” collaborations. This implies that entering simple non-monetary explorative research agreements also now allows Genmab to "tick the box" at the end of the year. Yes, I acknowledge that this is a detail and yes I’m also jumping to strong conclusions. But, we have essentially waited for years without seeing any significant signs of commercial potential beyond
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the massive JnJ collaboration. This meanwhile it seems like money is being thrown after competing biotech firms in lucrative deals on bi-specific technology platforms. However, it is still worse that the new articulation clearly shows that any negotiations efforts (or prospects) from last year must have stranded. There is simply no other reason for changing such important words that have been repeatedly published in the exact same fashion quarter after quarter for years now.
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I have previously expressed my scepticism in particularly after Novartis when to Xencor and essentially slapped Genmab in the face by entering a rather big commercial deal after prolonged research sniffing by Genmab.We are being told that Duobody is world-class and that we must just be patient as big pharma will eventually wake up and "smell the coffee" as they scramble to sign commercial deals accepting the co-ownership that Winkel keeps demanding.
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However, the new downplayed narrative makes me even more sceptical that the requirement of opt-in is ostentatious. Genmab is simply falling behind rapidly advancing clinical research in competing biotech companies that were willing to offer better deal terms. Remember it is the early birds that catches the worms even if they are not the best hunters !!!!!
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Let me hurry up and underline that I remain bullish. I guess it is okay to be bullish on Darzalex plus the proprietary pipeline meanwhile growing increasingly sceptical on commercial grand-standing with regards to the technology platforms that in my humble view still requires one more profound commercial partnership to have the potential fully validated.
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Well see a few mistakes, it went a bit too fast, but I guess the meaning will transpire..
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Thank you for sharing your thoughts, David.
.I agree on most. If you have any questions to mr. Jan van der Winkel please do not hesitate to share them with us all tomorrow in the Q&A
If you have any questions regarding the procedure please do not hesitate to contact me at hl@
proinvestor.com Phone: +45 28 55 64 30
Thank you in advance.
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update reuters article, now $13bn http://www.reuters.com/article/genmab-results-idUSL8N1G77A1?type=companyNews&feedType=RSS&feedName=companyNews
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@el
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for you EL
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