In course correction, AbbVie steers toward innovation with Genmab deal
AbbVie reaffirms its commitment to cancer, paying $750M up front for rights to a trio of Genmab bispecifics
AbbVie’s Genmab deal gives it a ticket to one of the hottest modality spaces, albeit as a latecomer.
The pharma gains bispecific antibodies to add to its ADCs and standard mAbs, extending its tool kit in cancer to cover the much-watched area of T cell engagers that can compete with CAR Ts.
The deal represents a renewed commitment to cancer -- and solid tumors in particular -- following a pair of Phase III failures, as well as a course correction after the $63 billion takeout of Allergan plc, which prioritized revenue over innovation. Still, the biopharma isn’t straying far from its lane of antibody-based drug development.
The deal also comes as AbbVie is aggressively pursuing ways to help it offset future generic competition for its top seller, Humira