Months after cancer drug trial, Merus agrees to be bought at 41% premium

By Steve Goldstein

Genmab said it's buying a cancer drug maker for $8 billion.

Merus agreed to be bought for a 41% premium, months after a positive trial of a cancer drug.

Danish-Dutch biotech Genmab (GMAB) (DK:GMAB) said it's buying Utrecht, Netherlands-based Merus (MRUS) for $8 billion, or $97 a share.

Genmab shares slipped 3% in Copenhagen trade, while Merus shares climbed 38% in premarket U.S. trading.

Genmab said the deal will give it petosemtamab, a late-stage asset with two breakthrough therapy designations, to its portfolio.

"Petosemtamab has the potential to be a transformational therapy for patients living with head and neck cancer. With our proven track record of success, both in clinical development and in commercialization, we are confident that we will be able to unlock the promise of petosemtamab," Genmab CEO Jan van de Winkel said.

Genmab anticipates the potential for the initial launch of petosemtamab in 2027, subject to clinical results and regulatory approvals.

Genmab said the drug could become a blockbuster - meaing sales of at least $1 billion - as early as 2029.

It will finance the deal through cash and $5.5 billion of debt.

-Steve Goldstein

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

09-29-25 0534ET