Impacted by a one-off adjustment in Europe and modest growth in the third-line and fourth-line MM setting in the US, sales for Darzalex came in below our expectations. However, given the continuous market share gain in the second-line regimen and upcoming approval in frontline, we believe that the growth momentum would accelerate in the coming years. Though increased investment into the commercial infrastructure is a short-term FCF dampener, it is expected to create value in the long run.
16 Nov 2018
Sales miss for Darzalex; cost base to expand in the forecast years
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Sales miss for Darzalex; cost base to expand in the forecast years
Genmab A/S (GMAB:WBO) | 0 0 1.3% | Mkt Cap: 66,508m
- Published:
16 Nov 2018 -
Author:
Sumit Sayal -
Pages:
3
Impacted by a one-off adjustment in Europe and modest growth in the third-line and fourth-line MM setting in the US, sales for Darzalex came in below our expectations. However, given the continuous market share gain in the second-line regimen and upcoming approval in frontline, we believe that the growth momentum would accelerate in the coming years. Though increased investment into the commercial infrastructure is a short-term FCF dampener, it is expected to create value in the long run.