Biotech Values

[mcbio]

GSK licensed Arzerra (a/k/a/ ofatumumab; f/k/a/ HuMax-CD20) in 2006 in one of the largest biotech deals ever for any company (#msg-15652707).

What's the current outlook for Arzerra these days? I was taking an initial look at Genmab and doing a bit of DD on the company. Only a ~$350M market cap (looks like it was once $3B in the mid-2000s) with about $200M in cash and seems like they have a nice antibody pipeline led by Arzerra and complemented with solid partners in GSK, Roche, and SGEN. Looks like Arzerra 1Q12 sales grew 32% over 1Q11 sales to about $20M. Are the original projections from the former CEO, and analysts, projecting annual Arzerra sales of over $2B still possible? Looks like the drug is only approved for CLL with Phase 3 trials ongoing in FL, RA, and DBLCL. I'm assuming they'll need approvals in all of these indications to hope to get anywhere near those initial projections. And I guess I wonder how Arzerra stacks up to the current competition, including PCYC's BTK drug.