Business & Finance
Genmab reports worldwide net trade sales of USD2.998bn for DARZALEX in 2019
23 January 2020 -

Genmab A/S (CPH:GMAB), an international biotechnology company specialising in the creation and development of differentiated antibody therapeutics for the treatment of cancer, reported on Wednesday that worldwide net trade sales of DARZALEX (daratumumab), as reported by Johnson & Johnson, were USD2,998m in 2019.

Net trade sales were USD1,567m in the US and net trade sales in the rest of the world were USD1,430m.

Genmab receives royalties on the worldwide net sales of DARZALEX as calculated on the basis of the licence agreement terms under the exclusive worldwide licence to Janssen Biotech Inc to develop, manufacture and commercialise DARZALEX.

Worldwide net trade sales of DARZALEX in 2018 were USD2,025m, resulting in royalty income of DKK1,708m to Genmab.

Also, Genmab has achieved a USD150m sales volume milestone payment triggered by sales of DARZALEX reaching USD3bn in the calendar year of 2019 as calculated on the basis of the licence agreement terms. Under this licence agreement, DARZALEX sales are calculated based on a hedged foreign exchange rate and as such are different from net trade sales reported by Johnson & Johnson. This difference was mainly due to the translation of sales denominated in currencies other than USD into USD under the licence agreement. No further sales volume milestones are due under the licence agreement.

According to Genmab, this milestone was included in the original financial guidance issued by the company on 20 February 2019 and in the improved financial guidance issued on 6 November 2019; as such there is no change to the company's financial guidance for 2019.