PhRMA Welcomes Genmab to the Association

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The Pharmaceutical Research and Manufacturers of America (PhRMA) represents the country’s leading innovative biopharmaceutical research companies, which are laser focused on developing innovative medicines that transform lives and create a healthier world. Together, we are fighting for solutions to ensure patients can access and afford medicines that prevent, treat and cure disease. Over the last decade, PhRMA member companies have invested more than $850 billion in the search for new treatments and cures, and they support nearly five million jobs in the United States.

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WASHINGTON, D.C. (December 14, 2023) – The Pharmaceutical Research and Manufacturers of America (PhRMA) announced today that Genmab joined the association as a member. Genmab is a fast-growing biotechnology company that’s committed to the discovery, development and delivery of innovative and differentiated antibody therapeutics to fight cancer and other serious diseases.

“PhRMA represents visionary companies that turn science into tangible treatments for patients,” said Stephen J. Ubl, president and CEO of PhRMA. “I am proud to welcome Genmab, a company that does just that, to PhRMA’s membership. It’s a dynamic international company with the goal of improving the lives of people with cancer through next-generation antibody therapies. The company shares our goal of ensuring patients have access to treatments through strong policy solutions.”

Genmab is headquartered in Copenhagen, Denmark, and is based in Princeton, New Jersey in the U.S. Genmab will look to support PhRMA’s policy efforts in protecting innovation and making sure patients can access and afford their medicines. These policy efforts include fixing the misaligned incentives in the system that impact patients’ ability to access the medicines they need and to ensure an environment that enables the delivery of transformative medicines to patients now and into the future.

"The power of science and collaboration are key to addressing today’s most urgent health challenges,” said Anthony Mancini, executive vice president and chief operating officer of Genmab. “At Genmab, we’re focused on advancing innovative science and ensuring patients can access and afford the medicines they need. As a member of PhRMA, we look forward to engaging with stakeholders across the healthcare community and participating in productive dialogue and efforts that positively impact health systems in the US – and ultimately improve patients’ lives.”

The biopharmaceutical industry is a leader among innovative industries and PhRMA member companies specifically invest an average of 20% of their revenue in research and development (R&D). Since 2017, companies eligible for association membership must meet specific R&D criteria, including maintaining a three-year average global R&D to global sales ratio of 10% or greater, along with a three-year average global R&D spending of at least $200 million per year.

For more information on Genmab, visit: www.genmab.com.

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