Genmab's Earnings Beat Expectations With Strong Darzalex Sales; Higher Royalty Rate for 2019
No-moat Genmab reported a strong close to fiscal 2018, finishing with over DKK 3 billion in full-year sales, up nearly 28% from the prior year. The full-year results were slightly above our and analyst expectations but within company guidance. The company's top-line growth was largely driven by quick uptake of Darzalex in front-line multiple myeloma (partnered with Johnson & Johnson). Johnson & Johnson reported full-year Darzalex sales of over $2 billion, meaning that the drug broke thro...Genmab is a biotechnology company specializing in the creation and development of differentiated human antibody therapeutics focused on the treatment of cancer. Co.'s product pipeline includes one marketed product, Arzerra, daratumumab in late stage clinical development, four antibodies in clinical development, and over 20 in-house and partnered pre-clinical programs. Co.'s Arzerra (ofatumumab) is a human monoclonal antibody which targets an epitope on the CD20 molecule. Co.'s proprietary technologies include the DuoBody technology, which creates antibodies that can target two molecules at once, and the HexaBody technology, which allows for the creation of more potent antibodies.
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