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12:00 AM
Oct 20, 2008
 |  BioCentury  |  Strategy

Genmab's platform decisions

Just about every biotech company nearing commercialization finds that it has to rejigger its spending - both to account for the costs of market launch and to meet investors' expectations about delivering earnings. Genmab A/S is one of the first high profile biotechs to reach this inflection point in the new, more stringent, regulatory and payer environment, and the antibody company has proactively refocused its pipeline to meet the needs of this new world.

Genmab, which plans its first BLA submission around year end, needed to balance its R&D spend with expected revenue to become a sustainable company. The results of its review, announced earlier this month, include dropping programs in small markets or outside its core area of cancer so it can focus on projects with the highest market potential.

"As we approach commercialization, we need to build a sustainable business," President and CEO Lisa Drakeman told BioCentury. "The goal is to match our expected spending on R&D with our projected revenues. We felt that it was very important to focus on cancer, where we have a lot of skill and experience, and that meant that some of our early stage programs that are not in the clinic will probably not be candidates for us to take forward."

At June 30, Genmab had a six-month R&D spend of DKK662 million ($139.8 million) and DKK2.1 billion ($443.5 million) in cash. The company hasn't disclosed how much it expects the pruning to economize in R&D spending.

Given its broad antibody platform, the company is still left with a robust pipeline.

Following the review, the company still has seven...

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