Genmab/CEO: Three products could turn into five this year - GENT
24/2 06:34
Genmab's three earnings horses may well turn into five during 2021.
- The most important milestone for us this year is that we hope to get two new products approved, which are basically created with technology from Genmab. One is Johnson & Johnson's Amivantamab, and the other is Tisotumab Vedotin, CEO Jan van de Winkel told Ritzau Finans.
It is only about two weeks since Genmab and partner Seagen applied for marketing authorisation in the United States for Tisotumab Vedotin to treat cervical cancer based on phase 2 studies.
Normally, the processing time in the U.S. is ten months, but Genmab hopes the process will speed up.
- We're clearly hoping for accelerated approval. We do not yet know, but we hope that we can get the molecule approved in the second half of the year in the United States, says Jan van de Winkel.
Johnson & Johnson is also a long way from drug candidate Amivantamab against non-small cell lung cancer. The product was created on the basis of Genmab's platform with bispecific medicines, and Genmab can therefore look forward to high single digits and up to double-digit royalties from the sale.
- Amivantamab has breakthrough therapy designation, so it can go much faster. And in fact, Amivantamab could potentially come on the market in the first half of this year. But it's up to Janssen and the regulatory process at the FDA. But I think it is quite possible that this year we will have two products approved, so that we collectively come up to five molecules created with Genmab technology, says Jan van de Winkel.
However, Genmab's forecast for 2021 only includes royalties from the sale of the cancer drug Darzalex and, to a lesser extent, from the eye agent Tepezza and Kesimpta in return for multiple multiple sclerosis.
Amivantamab and Tisotumab Vedotin, on the other hand, are not included.
- It will be pure upside, says Jan van de Winkel.