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Stock Buyback Is Vote Of Confidence From Genmab Board

 
• By Kevin Grogan

The Danish firm is spending nearly $580m to repurchase up to 2.2 million shares

Genmab Office Copenhagen - close up
The Danish Biotech Has Growth In Its Sights • Source: Genmab

It has been a tough month for Genmab, with Johnson & Johnson opting out of a pact and a lawsuit landing from AbbVie, but the Danish biotech has come out fighting with the announcement of a new share buyback program.

Key Takeaways
  • The timing of the buyback is interesting as it comes as Genmab gets into a legal spat with partner AbbVie

Under the plan, the Copenhagen-headquartered firm may repurchase up to 2.2 million shares with a maximum value of DKK4.0bn ($578.5m)....

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