MARKET TALK: Genmab Lower On Arzerra Concerns

24th Jun 2010 10:25

0925 GMT [Dow Jones] Genmab (GEN.KO) trades -4.1% at DKK55.65 following news the U.K. National Institute for Health and Clinical Excellence won't recommend publicly-funded use of Genmab's and GlaxoSmithKline's (GSK) leukaemia drug Arzerra. Analyst Rune Majlund Dahl at Sydbank says the news hits Genmab's shares because it raises concerns about Arzerra's efficiency. Adds the drug is a key product for Genmab. However, says the U.K. pharmaceutical market is relatively small as such for Genmab compared with other markets like the U.S. Notes the company's shares have been rather volatile in recent weeks. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 24, 2010 05:25 ET (09:25 GMT)