GMAB - Genmab ups 2022 revenue guidance on positive FX impact strong Darzalex sales

November, 03 2022 06:36 PM Genmab A/S

Genmab ( GMAB ) on Thursday raised its 2022 revenue guidance on the back of a positive foreign exchange rate impact on its royalty revenue and strong net sales of cancer drug Darzalex.
The Danish biotech now expects 2022 revenue to be in the range of DKK 13.5B to DKK 14.5B ($1.77B to $1.90B) compared to a prior outlook of DKK 12B to DKK 13B ($1.57B to $1.70B).
The projected revenue for 2022 primarily consists of Darzalex royalties, which GMAB receives from Johnson & Johnson ( JNJ ) unit Janssen.
GMAB revised its estimate of Darzalex 2022 net sales to $8.00B-$8.20B vs. an earlier range of $7.80B-$8.20B.
The company now expects its 2022 operating profit to be in the range of DKK 5.10B to DKK 6.50B ($668M to $851.4M). It had previously forecasted operating profit of DKK 3.80B to DKK 5.40B ($497.9M to $707.5M).
GMAB is set to announce financial results for the first nine months of 2022 on Nov. 9.
U.S.-listed shares of Genmab ( GMAB ) earlier closed +1.4% at $39.35.

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