MARKET TALK: Genmab Seen Opening Up On Adjusted GSK Deal

2nd Jul 2010 07:36

0636 GMT [Dow Jones] Genmab's (GEN.KO) shares should open sharply higher after the company said late Thursday it has amended its co-operation agreement for the drug Arzerra with partner GlaxoSmithKline (GSK), says analyst Rune Majlund Dahl at Sydbank. Says Genmab receives money upfront so it can improve financial situation without any rights issue, and caps its further spending on Arzerra so it can diversify its pipeline investments. Says the new deal should also be positive for GlaxoSmithKline, which gains more control of Arzerra's further development. Genmab shares closed Thursday at DKK40.91. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 02, 2010 02:36 ET (06:36 GMT)

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