Genmab announced an $8 billion acquisition of Merus to gain full ownership of the latter's late-stage bispecific antibody, petosemtamab, targeting head and neck cancer. This acquisition aligns with Genmab's strategy to evolve from royalty-based operations to a fully integrated biopharma company. Petosemtamab has shown promising Phase II results paired with Merck’s immunotherapy Keytruda, including a 79% one-year overall survival and a median progression-free survival of nine months. The deal is anticipated to accelerate Genmab’s cancer therapy portfolio and revenue diversification into the next decade.