Genmab has announced an $8 billion all-cash acquisition of Dutch biotech Merus, securing full rights to Merus's late-stage bispecific antibody, petosemtamab, currently in pivotal trials for head and neck cancer. Merus's drug has shown promising survival benefits when combined with Merck's immunotherapy Keytruda. The acquisition aligns with Genmab's strategy to move from partnerships to independently developing and commercializing medicines, anticipating multi-billion dollar sales potential if petosemtamab reaches the market in 2027. The deal includes a $97 per share premium over Merus's recent closing price.