Glaxo buys Genmab stake for €1.59bn

THE world’s second-largest drugmaker, GlaxoSmithKline, agreed to pay as much as $2.1 billion (€1.59bn) for a 10.1% stake in Danish biotechnology company Genmab and rights to one of its cancer and arthritis treatments.

Glaxo buys Genmab stake for €1.59bn
Wed, 20 Dec, 2006 - 00:00
Andrea Gerlin

Shares of Genmab rose to their highest price in six years.

Glaxo will pay a fee of €78m now and buy shares valued at about €2.03 billion kroner, the companies said yesterday.

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CourtsPlace: CopenhagenPlace: DenmarkPlace: LondonPerson: Frank Hoerning AndersenPerson: Helle HustedPerson: Gwenan WhitePerson: Lisa DrakemanOrganisation: GlaxoOrganisation: GenmabOrganisation: GlaxosmithklineOrganisation: Jyske BankOrganisation: DomantisOrganisation: SanfordOrganisation: GbolaOrganisation: AmusaOrganisation: GSK
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