The Danish biotech company Genmab creates and develops innovative and differentiated antibody products, with the aim of improving the lives of cancer patients. The company is the creator of multiple approved antibody therapeutics that are marketed by its partners.
Genmab’s proprietary pipeline consists of modified antibody candidates, including bispecific T-cell engagers and next-generation immune checkpoint modulators.
From the start in Copenhagen in 1999, Genmab’s continued commitment to oncology has given the biotechnology company a drive to improve the lives of patients with cancer. The company strives to achieve this goal by building on its research in antibodies to expand its capabilities beyond the lab.
Genmab expects its 2021 revenue to be in the range of USD 1.15–1.24 billion, an increase compared to previous guidance, driven primarily by the continued strong growth of DARZALEX net sales.
Genmab’s projected revenue for 2021 primarily consists of DARZALEX royalties of USD 835–900 million. Such royalties are based on Genmab’s revised estimate of DARZALEX 2021 net sales of USD 5.6–5.9 billion compared to Genmab’s previous estimate of USD 5.2-5.6 billion.
Since the second quarter of 2020, Janssen has reduced its royalty payments to Genmab by what it claims to be Genmab’s share of Janssen’s royalty payments to Halozyme.
As of the end of the second quarter, Genmab’s proprietary pipeline of product candidates, where the biotechnology company is responsible for at least 50% of development costs, consisted of eight clinical stage antibodies.
In addition to its own pipeline, there are also 15 products in development by third-party companies. Beyond the antibodies in clinical development, Genmab’s pipeline also includes around 20 in-house and partnered preclinical programs.
In the second quarter 2021, the U.S. FDA accepted for Priority Review the accelerated approval for tisotumab vedotin, for patients with recurrent or metastatic cervical cancer.
[This is] the first regulatory approval for a product created using Genmab’s proprietary DuoBody® technology platform. The majority of Genmab’s clinical stage products are based on our DuoBody technology, and we hope that the approval of RYBREVANT is just the first validation of many of the potential for this technology to create effective treatments for patients with cancer.
Shares of Genmab rose by 8,500% since October 2011.