Genmab Reports Strong H1 2026 Growth on Epcoritamab Success and Royalty Boost — Genmab A/S

Event summary

Genmab's revenue increased by 25% to $2,051 million in H1 2026, driven by higher DARZALEX and Kesimpta royalties and EPKINLY net product sales.
Positive Phase 3 results for epcoritamab plus lenalidomide in relapsed/refractory DLBCL showed statistically significant improvement in progression-free survival.
Royalties increased by 24% to $1,708 million, primarily from higher DARZALEX and Kesimpta sales.
Adjusted operating profit rose to $656 million, up from $554 million in H1 2025.
Genmab updated its 2026 financial guidance, raising revenue projections to a midpoint of $4,425 million.

The big picture

Genmab's strong H1 2026 performance underscores its strategic focus on leveraging royalty streams from key partnerships while advancing its own clinical pipeline. The company's ability to sustain this growth will depend on the success of its late-stage candidates and effective integration of acquired technologies. In an increasingly competitive biotech landscape, Genmab's dual strategy of commercializing internal innovations and maximizing external collaborations positions it as a formidable player in oncology therapeutics.

What we're watching

Clinical Pipeline Progress: How the Phase 3 success of epcoritamab will accelerate its approval and commercialization across B-cell malignancies.
Royalty Revenue Sustainability: Whether Genmab can maintain the strong royalty income from DARZALEX and Kesimpta amid potential market competition.
Integration Challenges: The pace at which Genmab can integrate Merus' technology platform to drive future product development.