While sales for Darzalex were a tad below expectations in Europe, the US performed well with a sustained share gain in the second-line MM setting. Given the upcoming approval in the frontline indication, the $3bn targets for the drug for FY19 remain within reach. Also, as the full-year profitability outlook was reiterated, the higher R&D expense for Q1 appears a timing issue. As long as the swelling cost base is well funded by the Darzalex royalty flow, we remain optimistic.
10 May 2019
Swelling cost base not worrisome
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Swelling cost base not worrisome
Genmab A/S (GMAB:WBO) | 0 0 1.3% | Mkt Cap: 66,508m
- Published:
10 May 2019 -
Author:
Sumit Sayal -
Pages:
3
While sales for Darzalex were a tad below expectations in Europe, the US performed well with a sustained share gain in the second-line MM setting. Given the upcoming approval in the frontline indication, the $3bn targets for the drug for FY19 remain within reach. Also, as the full-year profitability outlook was reiterated, the higher R&D expense for Q1 appears a timing issue. As long as the swelling cost base is well funded by the Darzalex royalty flow, we remain optimistic.