Whoa Nellie as Chris Jackson always said!!
++++Glaxo signs record $2.1 bln deal for Genmab drug
That seems like King Solomon's ransom, but when delving into it, this could be another Rituxan, as well as for other Cancer indications, and RA too.....Xoma GAVE AWAY Rituxan for like 20 something million, so this looks to be advantageous for both parties as a win win situation if it passes all FDA muster....
For Glaxo, it opens up a whole new extension to its Monoclonal Antibody division and have a new late stage drug in trials for multiple indications almost ready to go....like Cisco in networking, who buys so many leading edge small tech companies instead of developing the technology inhouse, it
allows the other company to do all the dirty work of the primary, secondary and terciary digging in the mud to get the product where it is viable, and then the Big Daddy Warbucks come sweeping in with irresitable dollars and now take over new technology that they integrate with their own and that keeps the revenue flow and pipeline progressing....
So, all in all, it looks on the surface to be a win win situation, especially that the upfront money is not exhorbitant and the back loaded royalties is where the lion's share of Genmab's big bucks will come from for years, decades to come.....IMHO.
Peace all,