LONDON, Feb 4 (Reuters) - GlaxoSmithKline has putits 7.9 percent stake in Danish biotech company Genmab up for sale to institutional investors, the British drugs giantsaid on Wednesday.
"Since the announcement of the sale of GSK's marketedOncology portfolio to Novartis, GSK has considered its stake inGenmab to be a non-core asset," the company said in a statement.
The result of the placing, for which Deutsche Bank is actingas sole book runner, will be announced around Feb. 5, it said.
The stake is worth about 280 million euros ($320 million)based on the share price on Wednesday.($1 = 0.8757 euros) (Reporting by Karolin Schaps, Editing by Paul Sandle)
Glaxosmithkline (GSK)