Novo Nordisk reports Q1 EPS down 10% to DKK 2.43 Reports Q1 revenue up 7% in local currencies driven by Levemir and Victoza. Revenue increased by 7% in local currencies and by 2% in Danish kroner to DKK 20.3B. Operating profit increased by 15% in local currencies and by 6% in Danish kroner to DKK 8B.
Genmab enters commercial license agreement with Novo Nordisk Genmab (GNMSF) announced it has entered an agreement to grant Novo Nordisk (NVO) commercial licenses to use the DuoBody technology platform to create and develop bispecific antibody candidates for two therapeutic programs. The bispecific antibodies will target a disease area outside of cancer therapeutics. Under the terms of the agreement, Genmab will receive an upfront payment of $2M from Novo Nordisk. After an initial period of exclusivity for the two target combinations, Novo Nordisk has an option to maintain exclusivity or take the licenses forward on a non-exclusive basis. Genmab is entitled to potential development, regulatory and sales milestones of up to approximately $250M for each exclusive license, or approximately $200M for each non-exclusive license. In addition, Genmab will be entitled to single-digit royalties on sales of any commercialized products.