Interim Report for the First Nine Months Ended
Highlights
- Novartis granted
U.S. FDA approval for Kesimpta® (ofatumumab) in relapsing multiple sclerosis - Janssen and European Myeloma Network achieved positive topline results from Phase 3 APOLLO study of daratumumab in relapsed or refractory multiple myeloma
- Janssen was granted
U.S. FDA approval for DARZALEX® (daratumumab) in combination with carfilzomib and dexamethasone in relapsed or refractory multiple myeloma based on Phase 3 CANDOR study - DARZALEX net sales increased 35% compared to the first nine months of 2019 to
USD 2,937 million , resulting in royalty income ofDKK 2,898 million for the first nine months of 2020 Genmab commenced binding arbitration of two matters under daratumumab license agreement with Janssen
·Announcement of plan to transition Arzerra® (ofatumumab) to an oncology access program for chronic lymphocytic leukemia patients in the
“Genmab continued to deliver on the promise of improving the lives of patients, with multiple regulatory milestones for
Financial Performance First Nine Months of 2020
- Revenue was
DKK 8,067 million in the first nine months of 2020 compared toDKK 2,405 million in the first nine months of 2019. The increase ofDKK 5,662 million , or 235%, was primarily driven by the upfront payment from AbbVie pursuant to our new collaboration announced in June and higher DARZALEX royalties. - Net sales of DARZALEX by
Janssen Biotech Inc. (Janssen) wereUSD 2,937 million in the first nine months of 2020 compared toUSD 2,168 million in the first nine months of 2019, an increase ofUSD 769 million , or 35%. - Operating expenses were
DKK 2,641 million in the first nine months of 2020 compared toDKK 1,943 million in the first nine months of 2019. The increase ofDKK 698 million , or 36%, was driven by the advancement of epcoritamab (DuoBody®-CD3xCD20) and DuoBody-PD-L1x4-1BB, additional investments in our product pipeline, and the increase in new employees to support the expansion of our product pipeline. - Operating income was
DKK 5,426 million in the first nine months of 2020 compared toDKK 462 million in the first nine months of 2019. The increase ofDKK 4,964 million was driven by higher revenue, which was partly offset by increased operating expenses.
Outlook
Conference Call
+1 646 741 3167 (
A live and archived webcast of the call and relevant slides will be available at www.genmab.com/investors.
Contact:
T: +1 609 524 0065; E: mmp@genmab.com
For Investor Relations:
T: +45 3377 9558; E: acn@genmab.com
The Interim Report contains forward looking statements. The words “believe”, “expect”, “anticipate”, “intend” and “plan” and similar expressions identify forward looking statements. Actual results or performance may differ materially from any future results or performance expressed or implied by such statements. The important factors that could cause our actual results or performance to differ materially include, among others, risks associated with pre-clinical and clinical development of products, uncertainties related to the outcome and conduct of clinical trials including unforeseen safety issues, uncertainties related to product manufacturing, the lack of market acceptance of our products, our inability to manage growth, the competitive environment in relation to our business area and markets, our inability to attract and retain suitably qualified personnel, the unenforceability or lack of protection of our patents and proprietary rights, our relationships with affiliated entities, changes and developments in technology which may render our products or technologies obsolete, and other factors. For a further discussion of these risks, please refer to the risk management sections in Genmab’s most recent financial reports, which are available on www.genmab.com and the risk factors included in Genmab’s most recent Annual Report on Form 20-F and other filings with the
Y-shaped
Download the full Interim Report for the First Nine Months of 2020 on attachment or at www.genmab.com/investors.
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Attachment
- 041120_Q3 2020 Interim Report
Source:
2020 GlobeNewswire, Inc., source