Genmab: share up, with results better than expected
(CercleFinance.com) - The Danish biotech group Genmab last night reported H1 results above expectations, which led to its share price rising in Copenhagen today.
H1 sales rose 15% to 1.36 billion Danish kronor (about 182 million euros), an increase due to the sharp rise in Darzalex sales, an anti -cancer drug that it divested to the US giant Johnson & Johnson, although on which it still receives royalties.
The biotech company - which is now also listed on the New York Stock Exchange - is optimistic about royalties received on Darzalex and has raised its outlook for 2019.
Genmab now expects FY sales of about 4.8 billion Danish kronor, against a previous estimate of 4.6 billion Danish kronor.
The share is currently up over 2.5% on the Copenhagen Stock Exchange, having risen by over 4% in early trading.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
H1 sales rose 15% to 1.36 billion Danish kronor (about 182 million euros), an increase due to the sharp rise in Darzalex sales, an anti -cancer drug that it divested to the US giant Johnson & Johnson, although on which it still receives royalties.
The biotech company - which is now also listed on the New York Stock Exchange - is optimistic about royalties received on Darzalex and has raised its outlook for 2019.
Genmab now expects FY sales of about 4.8 billion Danish kronor, against a previous estimate of 4.6 billion Danish kronor.
The share is currently up over 2.5% on the Copenhagen Stock Exchange, having risen by over 4% in early trading.
Copyright (c) 2019 CercleFinance.com. All rights reserved.