Reuters: Global Markets: Genmab shares tumble after fund sells shares

Reuters: Global Markets Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Genmab shares tumble after fund sells shares Jun 11th 2013, 11:37 HELSINKI | Tue Jun 11, 2013 7:37am EDT HELSINKI (Reuters) - Danish biotech firm Genmab's (GEN.CO) shares tumbled 11 percent on Tuesday after one of its leading shareholders, Meditor European Master Fund, sold its entire stake. The fund had held more than 5 percent of Genmab shares earlier this month, according to a company fact sheet. Johnson & Johnson (JNJ.N) is Genmab's top shareholder after the U.S. company agreed last year to acquire a 10.7 percent stake in exchange for global license rights to a cancer agent. Genmab shares were trading at 194.9 crowns by 7:35 a.m. ET. The company reported an operating profit of 29 million crowns in the three months through March compared with a 44 million loss in the same quarter last year. But it expects an operating loss of 40-90 million crowns in 2013.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions