Genmab — September 2020
-
https://ir.genmab.com/news-releases/news-release-details/genmab-commences-bindin
g-arbitration-two-matters-under-license -
Bryan Garnier: Genmab just announced to have initiated binding arbitration against its partner J&J
over two different issues: 1/Share of royalty owed to Halozyme on the SubQ
formulation and 2/Duration of Darzalex’s royalties payment. While the impact of the
first one seems negligible, we believe the second one could have a significant impact. -
We anticipate that it will take months before this is resolved, putting lots of
uncertainty on the stock in the meantime. We are downgrading our rating to SELL and
putting our TP under review.
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