Purchase Agreement for Antibody Manufacturing Facility Receives Antitrust Clearance
27/02/2008 00:13
PR Newswire
COPEHNAGEN, Denmark, February 26 /PRNewswire/ --
- Genmab Announced Today the Purchase Agreement Entered Into Between
Genmab and PDL BioPharma Under Which Genmab Would Acquire PDL's Manufacturing
Facility has Received Antitrust Clearance.
Genmab A/S (OMX: GEN) announced today that the purchase agreement entered
into between Genmab and PDL BioPharma, Inc. under which Genmab would acquire
PDL's antibody manufacturing facility has received antitrust clearance from
the US antitrust authorities under the Hart-Scott-Rodino Act. This
transaction was announced February 21, 2008 and is expected to close by the
end of the first quarter of 2008. The US antitrust clearance received today
satisfies one of the customary closing conditions required to complete this
transaction, which will become effective as soon as all of these conditions
have been satisfied.
About Genmab
A/S Genmab is a leading international biotechnology company focused on
developing fully human antibody therapeutics for unmet medical needs. Using
unique, cutting-edge antibody technology, Genmab's world class discovery and
development teams have created and developed an extensive pipeline of
products for potential treatment of a variety of diseases including cancer
and autoimmune disorders. As Genmab advances towards a commercial future, we
remain committed to our primary goal of improving the lives of patients who
are in urgent need of new treatment options. For more information on Genmab's
products and technology, visit http://www.genmab.com.
This press release contains forward looking statements. The words
"believe", "expect", "anticipate", "intend" and "plan" and similar
expressions identify forward looking statements. Actual results or
performance may differ materially from any future results or performance
expressed or implied by such statements. The important factors that could
cause our actual results or performance to differ materially include, among
others, risks associated with product discovery and development,
uncertainties related to the outcome and conduct of clinical trials including
unforeseen safety issues, uncertainties related to product manufacturing, the
lack of market acceptance of our products, our inability to manage growth,
the competitive environment in relation to our business area and markets, our
inability to attract and retain suitably qualified personnel, the
unenforceability or lack of protection of our patents and proprietary rights,
our relationships with affiliated entities, changes and developments in
technology which may render our products obsolete, and other factors. Genmab
is not under an obligation to up-date statements regarding the future
following the publication of this release; nor to confirm such statements in
relation to actual results, unless this is required by law.
Genmab(R); the Y-shaped Genmab logo(R); HuMax(R); HuMax-CD4(R);
HuMax-CD20(R); HuMax-EGFr(TM); HuMax-IL8(TM); HuMax-TAC(TM); HuMax-HepC(TM);
HuMax-CD38(TM); HuMax-CD32b(TM) and UniBody(R) are all trademarks of Genmab
A/S.
Contact:
Helle Husted,
Sr. Director, Investor Relations,
T: +45-33-44-77-30,
M: +45-25-27-47-13,
E: hth@genmab.com
Contact: Helle Husted, Sr. Director, Investor Relations, T: +45-33-44-77-30, M: +45-25-27-47-13, E: hth@genmab.com