Genmab ups 2022 financial guidance

Danish biotech Genmab (Nasdaq: GMAB) says it is improving its 2022 financial guidance that was published on May 11 this year.

The improved guidance is driven primarily by increased royalty revenue due to higher net sales of Darzalex (daratumumab) and the positive net foreign exchange impact of the strong US dollar.

Genmab expects its 2022 revenue to be in the range of 12,000 – 13,000 million Danish kroner ($1,639 million - $1,776 million), an increase to the previous guidance of 11,000 – 12,000 million kroner, driven primarily by the continued strong growth of Darzalex net sales as well as the positive impact of the strong US dollar. Genmab’s projected revenue for 2022 primarily consists of royalties from multiple myeloma drug Darzalex, which is marketed US healthcare giant Johnson & Jansson’s (NYSE: JNJ) subsidiary Janssen.