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Biopharmaceuticals
Genmab and PDL BioPharma Sign Purchase Agreement for Antibody Manufacturing Facility
March 8th, 2008
Genmab A/S (OMX: GEN) and PDL BioPharma, Inc. (Nasdaq: PDLI) announced that they have entered into an agreement under which Genmab would acquire PDL's antibody manufacturing facility located in Brooklyn Park, Minnesota, USA for USD 240 million to be paid in cash. The transaction also includes land, equipment and access to a leased space housing a development lab. Genmab expects the Minnesota facility, which has a production capacity of 22,000 liters, will be sufficient to provide a sustainable source of both clinical and commercial scale material for its pipeline. The facility features two 1,000 liter and two 10,000 liter bioreactors, which support the simultaneous...
Source: Law & Health Weekly (2008-03-08)
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