Nordea/Novod: Genmab and JnJ just announced extremely strong POLLUX ph III topline data for Darzalex in combination with Revlimid and Dexamethasone for relapsed multiple myeloma (2nd line). The data monitoring committee recommends stopping the trial due to overwhelming efficacy. The POLLUX ph III trial is Darzalex+Dex+Revlimid versus Revlimid+Dex alone. The DarzalexRexDex arm significantly improved progression-6free survival over RevDex alone with a Hazard Ratio of 0.37, even better than the 0.39 in the CASTOR ph III trial recently announced. Hence, patients getting DarzalexRevDex saw a 63% reduction in risk of disease progression versus RevDex alone. AND THIS DESPITE VERY strong progression-free survival in the RevDex arm with a median of 18.4 months (normally only around 14 months for RevDex). This is very important we believe. Median PFS for the Darzalex arm has not been reached yet. JnJ is likely to file the combined CASTOR and POLLUX data for FDA and EMA approvals in H2 (as soon as possible). We will see CASTOR data at ASCO in Chicago on 5 and POLLUX data at EHA in Copenhagen on 11 June or 12 June. In our view, the Genmab share should be very strong tomorrow and we clearly remain buyers due to this. This is a major de-risking event and it builds on the evidence that Darzalex can likely become the next backbone therapy in multiple myeloma (ie upside to our 5-6n USD peak sales potential).
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