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Biopharmaceuticals
Genmab Agrees to Buy Minnesota Biotech Manufacturing Plant from PDL Biopharma
March 8th, 2008
Genmab, an international biotech company headquartered in Copenhagen, Denmark, announced that it has signed an agreement to buy the manufacturing facility in Brooklyn Park currently owned by PDL Biopharma for $240 million. The transaction is subject to customary closing conditions, including clearance by U.S. antitrust authorities under the Hart-Scott-Rodino Act. It will become effective as soon as these conditions have been satisfied. All 170 employees currently at the 215,000-square-foot facility received offer letters from Genmab today contingent on successful closing of the purchase. Genmab focuses on developing fully human antibody therapeutics...
Source: Law & Health Weekly (2008-03-08)
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