Global sales of Genmab's cancer drug Darzalex rose to $3.67 billion in the third quarter, a 22% increase from the same period a year earlier, according to a company announcement on Tuesday.
The sales figures for the multiple myeloma treatment were reported by partner Johnson & Johnson, which markets the drug globally.
Sales in the U.S. totaled $2.09 billion, while sales in the rest of the world reached $1.58 billion, the company said.
Genmab, which developed Darzalex, receives royalties from Johnson & Johnson that are helping to fund the company's strategic shift, including its recent agreement to acquire Merus for approximately $8 billion.
The deal, announced in late September, is part of Genmab's strategy to build a pipeline of wholly owned drugs and reduce its reliance on royalty income.
"The proposed acquisition of Merus clearly aligns with our long-term strategy," Jan van de Winkel, President and Chief Executive Officer of Genmab, said when the deal was announced.
"It has the potential to significantly accelerate our evolution into a global biotechnology leader by providing durable growth for the company well into the next decade."
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Genmab said Monday it is raising $6 billion in debt through a combination of notes and loans to help fund its pending acquisition of biotechnology company Merus.
Genmab said Monday it is raising $6 billion in debt through a combination of notes and loans to help fund its pending acquisition of biotechnology company Merus.
Genmab A/S on Tuesday said it has commenced a cash tender offer to acquire all outstanding shares of Merus N.V. for $97.00 per share, formally launching its approximately $8 billion acquisition of the biotechnology company.
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