Genmab raises forecast as new cancer drug advances

Danish drugmaker Genmab raised its full-year financial forecast on Thursday, citing strong royalty revenue from its blockbuster cancer drug Darzalex and positive clinical trial results for its newer lymphoma treatment, epcoritamab.

The company said it now expects 2025 revenue between $3.5 billion and $3.7 billion, up from a previous range of $3.34 billion to $3.66 billion.

Operating profit guidance was also lifted to between $1.06 billion and $1.41 billion.

The upgraded outlook follows a strong first half, where revenue grew 19% to $1.64 billion, driven by royalties from Darzalex, which is marketed by partner Johnson & Johnson.

Global sales of Darzalex by Johnson & Johnson rose 22% to $6.78 billion in the first six months of the year, according to the company.

Genmab also highlighted progress in its pipeline, noting that the U.S. Food and Drug Administration has accepted for priority review a new application for epcoritamab to treat follicular lymphoma.

The application is based on a late-stage study where the drug, co-developed with AbbVie, showed a statistically significant improvement in progression-free survival.

“In the first half of the year we continued to make progress towards our strategic priorities as we strive towards our goal of bringing our innovative therapies to additional patients in need,” said Jan van de Winkel, Chief Executive Officer of Genmab.