Genmab to buy biotech plant from PDL

The transaction is subject to customary closing conditions, including clearance by US antitrust authorities. It will become effective as soon as these conditions have been satisfied. All 170 employees currently at the 215,000-square-foot facility received offer letters from Genmab contingent on successful closing of the purchase.

Products manufactured at the Brooklyn Park plant currently are used only for clinical trials. Genmab would like to expand the use of the facility to commercial production of antibodies so that all patients have access to the drugs manufactured at the facility as they become approved by the FDA.