Firm Secures Win for Janssen in Arbitration
January, 2024 - New York, New York
The firm has defeated an appeal of a decision in favor of our client, Janssen Biotech, Inc., entered by an arbitral tribunal last year. In that arbitration, Genmab A/S demanded milestone payments and an extended royalty term with respect to the subcutaneous formulation of daratumumab (marketed as DARZALEX FASPRO in the United States) under the relevant license agreement between Genmab and Janssen. Genmab had sought an award of $405 million plus interest in accrued milestone payments for DARZALEX FASPRO, as well as a declaration that Genmab was entitled to a new 13-year royalty term from the date of DARZALEX FASPRO’s first commercial sale.
Janssen’s victory in this appeal and arbitration follows an earlier win by Janssen over Genmab, also relating to daratumumab royalties under the license agreement. The firm represented Janssen in that earlier victory as well.
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