Genmab — September 2018

[E_L]

I guess we can all conclude that they should never have a CMD again and that they should stop explaining their innovations and pipeline, and most certainly not be enthusiastic about it. Actually it is better to stop researching all together because it costs money.

[E_L]

sry. frustrated.

[JørgenVarnæs]

maybe just choose a strategy suitable for a biotech instead

[E_L]

how is that not what they are doing now?

[E_L]

what do you think they should do then?

[JørgenVarnæs]

they are building a fully integrated pharma company. Choosing indications that require substantial resources and skills that are outside the core in GEN. It could not be more wrong if they tried

[JørgenVarnæs]

which they seem to do - so we can kiss value creation goodbye

[JørgenVarnæs]

this strategy is like pushing on a rope

[E_L]

well, we can discuss whether we like that or not, but we have done that a few times in the past

[E_L]

thing is, it wasn't exactly decided yesterday

[E_L]

it has been the plan for a while

[E_L]

if it is only the sales organisation we differ about, i think the cost for that will be limited to their overal budget

[JørgenVarnæs]

nope - this strategy requires extensive CMC, regulatory, legal, marketing, distribution etc skills that GEN do not have - on top of the sales org

[E_L]

and they clarified that not all their pipeline will be distributed or even developed that way

[JørgenVarnæs]

...so what you are saying could be interpreted as this - we build these skills and capacity. However, we will not use it when it really counts?

[E_L]

no, my undertanding is that they will use it selectively, unly for those products where it makes sense

[Sukkeralf]

or Genmab nows if things get to big they need BP - as they have said numerous times

[E_L]

that is why they can keep that organisation small

[E_L]

exactly

[JohnW]

Føler vi os overbeviste om, at de kan gentage successen fra Darzalex? Var fundet af Darzalex ikke nærmest et tilfælde, da de havde fravalgt det i første omgang? Og de manglende tech-deals tyder jo ikke på at deres teknologi finder interesse?