Genmab's First Quarter Driven by Darzalex Sales in Multiple Myeloma; Shares Fairly Valued
We are maintaining our fair value estimate of DKK 1,160 for no-moat Genmab. The Danish pharmaceutical firm started off the year with strong Darzalex sales in multiple myeloma but softer Arzerra royalties, resulting in DKK 591 million, down 13% from last year, largely due to a one-time payment last year of DKK 304 million related to Arzerra's transition to limited availability. We believe the firm is on track to meet our expectations for the full year.Arzerra, which treats a rare form of leukemi...
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.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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