Financial Performance
Genmab A/S announced first‑half 2026 revenue of $2.05 billion, representing a 25% year‑on‑year increase from $1.64 billion in the comparable period of 2025. The revenue uplift was driven primarily by higher royalties from DARZALEX and Kesimpta, which together generated $1.708 billion in royalty income, up 24% from $1.378 billion a year earlier, and by a strong rise in net product sales of EPKINLY/TEPKINLY, which climbed 48% to $312 million from $211 million.
Adjusted operating expenses rose 28% to $1.27 billion, reflecting increased investment in the product pipeline, including advancement of Rina‑S and petosemtamab, and expansion of global commercialization capabilities. Despite higher expenses, adjusted operating profit improved to $656 million, up from $554 million in H1 2025.
Management Commentary
Chief Executive Officer Jan van de Winkel highlighted that the second quarter of 2026 delivered clinical progress for the late‑stage portfolio, noting that Epcoritamab continued to demonstrate potential across the spectrum of B‑cell malignancies.
Guidance Update
Genmab raised its full‑year 2026 revenue guidance to a range of $4.325 billion to $4.525 billion, with a midpoint of $4.425 billion, up from the prior range of $4.065 billion to $4.395 billion. The company also updated its adjusted operating profit outlook to $1.065 billion to $1.385 billion, with a midpoint of $1.225 billion, compared with the previous guidance of $900 million to $1.4 billion.
Market Reaction
Following the announcement, Genmab’s shares declined 2.6%.