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BUZZ-AnaptysBio tumbles after latest legal battle over cancer drug

Reuters
Nov 21
BUZZ-AnaptysBio tumbles after latest legal battle over cancer drug

** Shares of drug developer AnaptysBio ANAB.O tumble 14.5% to $32.21 premarket

** GSK's GSK.L oncology unit, Tesaro, sued AnaptysBio late Thursday, claiming the biotech breached a 2014 license deal for cancer drug Jemperli

** Tesaro wants to terminate the agreement, cut royalties by half, and secure permanent rights to Jemperli

** AnaptysBio countersued on Friday, accusing Tesaro of breaking exclusivity rules and favoring other GSK drugs over Jemperli

** Both sides have sought an expedited trial in Delaware, expected in July 2026

** In 2020, AnaptysBio sued GSK over similar exclusivity concerns

** Up to last close, stock up ~184% YTD

(Reporting by Sahil Pandey in Bengaluru)

((Sahil.Pandey@thomsonreuters.com))

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