Genmab's Appeal Denied In Second Arbitration Under License Deal With Janssen For Daratumumab

(RTTNews) - Genmab A/S (GMAB) said that the appeal arbitrator in its second arbitration arising under its license agreement with Janssen Biotech for daratumumab has denied Genmab's appeal.

Genmab had appealed the tribunal's two-to-one decision dismissing Genmab's claims on the basis that the claims should have been brought in the prior arbitration between Genmab and Janssen.

Genmab's claims were based upon its position that the subcutaneous formulation of daratumumab (SC daratumumab, marketed as DARZALEX FASPRO in the United States) is a new licensed product under the license agreement. The claims included both a claim for milestone payments with respect to SC daratumumab and a claim for a new 13-year royalty term, on a country-by-country basis, from the date of the first commercial sale of SC daratumumab in each such country.

Genmab noted that the decision in the arbitration appeal will have no effect on Genmab's upcoming financial guidance for 2024.