Genmab grabs $134M as it restructures blockbuster GSK pact

Just weeks after Lisa Drakeman (photo) departed the CEO's post at Genmab, GlaxoSmithKline has engineered a big change to the $2.1 billion deal it struck with the Danish developer more than three years ago on Arzerra (ofatumumab). The troubled Genmab, which has watched its share price slide 90 percent, is getting $134 million upfront on the revised pact, but sees its milestone package cut in half. In the revised pact GSK takes responsibility for developing the therapy for autoimmune diseases...