MARKET TALK: Genmab Shrs Higher On Takeover Speculation

14th Jun 2010 09:31

0831 GMT [Dow Jones] Genmab (GEN.KO) shares +14% at DKK50.00 amid market speculation that partner GlaxoSmithKline (GSK) could place a bid for the company. An analyst says a takeover could be positive for the Danish biotech company, which has limited cash and might otherwise need to launch a rights issue in order to finance its research and development. Media spokespersons at Genmab and GlaxoSmithKline decline to comment. Glaxo shares +0.1% at 1198p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 14, 2010 04:31 ET (08:31 GMT)

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