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MarketScreener Homepage  >  Equities  >  Nyse  >  Johnson & Johnson    JNJ

JOHNSON & JOHNSON

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Johnson & Johnson : Genmab, Janssen in Cancer-Drug Licensing Deal

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06/11/2019 | 01:22pm EDT

By Chris Wack

Genmab A/S (GEN) said Tuesday it has entered into an exclusive world-wide license and option agreement with Janssen Biotech Inc. to develop and commercialize HexaBody-CD38, a next-generation human CD38 monoclonal antibody cancer product incorporating Genmab's proprietary HexaBody technology.

Genmab said in a release it will collaborate exclusively with Janssen, a division of Johnson & Johnson, on HexaBody-CD38. Genmab will fund research and development activities until completion of clinical proof of concept studies in multiple myeloma and diffuse large B-cell lymphoma.

Based on the data from these studies, Janssen could exercise its option and receive a world-wide license to develop, manufacture and commercialize HexaBody-CD38. Should this occur, Janssen will pay Genmab a $150 million option exercise fee and up to $125 million in development milestones, as well as a flat royalty rate of 20% on sales of HexaBody-CD38 until 2031, followed by 13%-20% tiered royalties on sales thereafter.

Should Janssen not exercise its option, the terms of the agreement allow Genmab to continue to develop and commercialize HexaBody-CD38 for Darzalex-resistant patients, and in all other indications except those multiple myeloma or amyloidosis indications where Darzalex is either approved or is being actively developed.

Genmab said that this deal won't materially impact its 2019 financial guidance.

Write to Chris Wack at chris.wack@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
GENESIS HEALTHCARE INC 0.00% 1.01 Delayed Quote.-14.41%
JOHNSON & JOHNSON -1.25% 130.6 Delayed Quote.2.48%
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Financials (USD)
Sales 2019 81 594 M
EBIT 2019 25 389 M
Net income 2019 18 319 M
Debt 2019 6 547 M
Yield 2019 2,84%
P/E ratio 2019 19,7x
P/E ratio 2020 17,4x
EV / Sales2019 4,36x
EV / Sales2020 4,09x
Capitalization 349 B
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Number of Analysts 21
Average target price 148,50  $
Last Close Price 132,25  $
Spread / Highest target 27,8%
Spread / Average Target 12,3%
Spread / Lowest Target -6,24%
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NameTitle
Alex Gorsky Chairman & Chief Executive Officer
Joseph J. Wolk Chief Financial Officer & Executive Vice President
Charles O. Prince Independent Director
William David Perez Independent Director
Anne M. Mulcahy Lead Independent Director
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