Danish pharmaceutical company Genmab reports revenue in line with expectations for the third quarter of 2026. Operating profit, however, was significantly higher than expected.
Revenue increased 16.1 percent to USD 1,187 million (1,022). The figure can be compared with Bloomberg analyst consensus of USD 1,200 million.
Operating profit came to USD 431 million (459), versus expected USD 352.2 million. The operating margin was 36.3 percent (44.9).
Net profit amounted to USD 342 million (401), versus expected USD 218.8 million.
Research and development expenses amounted to USD 451 million (354), versus expected USD 519.5 million. Selling and administrative expenses came to USD 196 million (148), versus expected USD 219 million.
Genmab repeats its full-year guidance for 2026, with revenue of USD 4,325–4,525 million. Adjusted operating profit is expected to amount to USD 1,065–1,385 million. Analysts had expected revenue of USD 4.47 billion and adjusted operating profit of USD 1.22 billion.
Following the end of the quarter, the company presented positive phase 3 results for epcoritamab, Rina-S and petosemtamab. The results are expected to form the basis for regulatory processes and potential product launches in 2027.
Royalty revenue amounted to USD 991 million (841), versus expected USD 992.2 million. Milestone revenue came to USD 5 million (53), versus expected USD 19.2 million.
Genmab, USD million
Key figuresActualConsensusDeviationQ3 2025ChangeRevenue1 1871 200−1.1%1 022+16.1%Operating profit431352.2+22.4%459−6.1%Operating margin36.3%––44.9%−8.6 ppNet profit342218.8+56.3%401−14.7%Earnings per share, USD5,58––6,51−14.3%
