Genmab: updates financial forecasts for 2024
(CercleFinance.com) - H1 2024 sales amounted to 9,545m DKK, compared with 7,003m DKK in H1 2023.
The increase of 2,542m DKK, or 36%, was mainly due to higher royalty income from DARZALEX (daratumumab) and Kesimpta (ofatumumab) from our collaborations with Janssen Biotech, Inc. (Janssen) and Novartis Pharma AG (Novartis), respectively, and higher net sales of EPKINLY products, the group says.
Royalty income amounted to 7,673m DKK in H1 2024, compared with 5,886m DKK in H1 2023, up 1,787m DKK (+30%).
H1 Operating profit amounted to 2,441m DKK, compared with 1,885m DKK. Earnings came to 1,402m DKK, compared with 75m DKK.
Genamab has raised its annual targets, expecting 2024 sales of 20.5bn-21.7bn DKK, compared with 18.7bn-20.5bn DKK previously.
The company has also refined its operating profit target, now anticipating 5.3bn to 7.1bn DKK, instead of 4.6bn-7.1bn DKK.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The increase of 2,542m DKK, or 36%, was mainly due to higher royalty income from DARZALEX (daratumumab) and Kesimpta (ofatumumab) from our collaborations with Janssen Biotech, Inc. (Janssen) and Novartis Pharma AG (Novartis), respectively, and higher net sales of EPKINLY products, the group says.
Royalty income amounted to 7,673m DKK in H1 2024, compared with 5,886m DKK in H1 2023, up 1,787m DKK (+30%).
H1 Operating profit amounted to 2,441m DKK, compared with 1,885m DKK. Earnings came to 1,402m DKK, compared with 75m DKK.
Genamab has raised its annual targets, expecting 2024 sales of 20.5bn-21.7bn DKK, compared with 18.7bn-20.5bn DKK previously.
The company has also refined its operating profit target, now anticipating 5.3bn to 7.1bn DKK, instead of 4.6bn-7.1bn DKK.
Copyright (c) 2024 CercleFinance.com. All rights reserved.