Acquisition Details
Genmab is set to acquire Merus for $97.00 per share, totaling approximately $8 billion in an all-cash transaction. The deal has been approved by both companies' boards and is expected to close by early 2026.
Strategic Fit
The acquisition will add petosemtamab, a late-stage asset with two Breakthrough Therapy Designations, to Genmab's portfolio. This aligns with Genmab's expertise in antibody therapy development and commercialization in oncology.
Financial Impact
The transaction is anticipated to be accretive to EBITDA by the end of 2029. Genmab plans to fund the acquisition through cash on hand and $5.5 billion in non-convertible debt financing.
Development and Launch Plans
Genmab aims to launch petosemtamab by 2027, subject to clinical results and regulatory approvals. The company plans to expand its development into earlier lines of therapy, with potential multi-billion-dollar annual revenue thereafter.
