Genmab A/S

Latest Results (18.12.2024):

Revenue Growth

Genmab A/S reported a significant increase in revenue for the first nine months of 2024, reaching DKK 15,085 million. This marks a 29% growth compared to the DKK 11,715 million recorded during the same period in 2023. The revenue boost was primarily driven by higher royalties from DARZALEX® and Kesimpta®, as well as increased net product sales of EPKINLY®.

Royalty Revenue

For the first nine months of 2024, Genmab A/S's royalty revenue rose to DKK 12,367 million, up from DKK 9,722 million in the same period of 2023. This 27% increase was largely attributed to higher net sales of DARZALEX® and Kesimpta®, reflecting the strong performance of these products in the market.

Operating Expenses

Genmab A/S reported total costs and operating expenses of DKK 10,542 million for the first nine months of 2024, compared to DKK 8,145 million in the same period of 2023. The 29% increase was driven by the expansion of the company's product pipeline, including research and development expenses related to ProfoundBio and the continued development of organizational capabilities.

Operating Profit

The operating profit for Genmab A/S in the first nine months of 2024 was DKK 4,543 million, compared to DKK 3,570 million in the same period of 2023. This improvement reflects the company's successful revenue growth and strategic investments in its product pipeline and organizational development.

Updated Financial Guidance

Genmab A/S has updated its financial guidance for 2024, increasing the lower end of its revenue range due to higher total royalty revenues from DARZALEX®. The company also adjusted the upper end of its operating expense range, reflecting a focused and disciplined approach to investments and portfolio prioritization.