Genmab reports Q1 revenue increased 46% vs. last year

Revenue was DKK 4.143B for the first three months of 2024. compared to DKK 2.834B for the first three months of 2023. The increase of DKK 1.309B, or 46%, was primarily driven by higher Darzalex and Kesimpta royalties achieved under collaborations with Janssen (JNJ) and Novartis Pharma (NVS), respectively, EPKINLY net product sales, and a milestone achieved under the company’s collaboration with AbbVie (ABBV), Genmab (GMAB) stated. Operating profit was DKK 801M in the first three months of 2024, compared to DKK 417M in the first three months of 2023. “The acceptance for Priority Review by the U.S. FDA of the sBLAs for EPKINLY and Tivdak that we received in the first quarter are important events that support our commitment to continue to deliver innovative treatment options that have the potential to profoundly impact the lives of patients. These regulatory acceptances for priority review also reflect our dedication to working with our partners, AbbVie Inc. and Pfizer Inc. to expand the labels for EPKINLY and Tivdak, respectively, in order to maximize the potential of both medicines and bring them to as many patients in need of alternative therapeutic options as possible,” said Jan van de Winkel, Ph.D., Chief Executive Officer of Genmab.