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Biotech / Medical : MEDX ... anybody following? -- Ignore unavailable to you. Want to Upgrade?

To: Icebrg who wrote (713)	7/1/2003 1:59:16 PM
From: keokalani'nui	Read Replies (1) \| Respond to of 2240

As I said, it is good in that genmab got what it needed...relief from burn. In exchange, it received (substantially?) worse economic terms covering il-15. For it is not merely a loss of co-promote, as now genmab is entitled to royalties on commercial sales instead of the profit sharing designated in the original agreement. Milestones are now in (large?) part based on sales thresholds. >>Companies of Genmab's type and size are in the business to develop projects and then to sell them to big pharma. They have just been able to sell one of these projects.<< True, sort of. They just sold the same program a second time to the original purchaser. Not the paradigm! >>They were always going to lose this drug if the results were good.<< This risk still exists, and potential has actually been accelerated since now amgn can kill it instantaneously...perhaps after seeing all the data genMab will have paid for. I do view this as a benefit, BTW. And BTW, it surely has become clear that the teasing out the clinical benefit of il-15/il-15r takes more sophistication than genmab has. I don't have a problem with this. >>And it is better that they devote their dwindling resources to projects where their equity stake is higher.<< That must mean CD4 antibody and anti-EGFr. I'd take il-15 over cd4, but hopefully company has better data than me. This is positive for GenMab's present but not the future, except that to someday enjoy the future you need to survive the present.