Denmark’s Genmab to Acquire Dutch Cancer Drugmaker Merus for $8 Billion

Danish biotechnology company Genmab announced on Monday that it plans to acquire Dutch firm Merus for $8 billion, in a move aimed at strengthening its oncology pipeline. Merus has developed a promising treatment for head and neck cancer.

Genmab’s Chief Executive Officer, Jan van de Winkel, stated in a release: “This acquisition has the potential to significantly accelerate our evolution into a global biotechnology leader.”

Merus’ petosemtamab is currently in Phase 3 clinical development and is expected to reach the market by 2027. According to van de Winkel, it:

• “Has the potential to be a transformational therapy for patients living with head and neck cancer.”

The Danish group projects that petosemtamab could contribute at least $1 billion in annual sales by 2029, with multi-billion-dollar revenue potential thereafter.

Genmab also markets Darzalex, a therapy for multiple myeloma, a type of bone marrow cancer. Darzalex is currently sold in partnership with Johnson & Johnson.

The Merus acquisition represents a strategic step for Genmab to expand its global presence in oncology and bolster its pipeline with innovative cancer treatments.