Genmab AS

Genmab raised its full-year revenue outlook to between $4.325 billion and $4.525 billion after first-half revenue climbed 25% to $2.05 billion, driven by a 24% increase in royalty revenue to $1.71 billion. The biotechnology company's U.S.-listed shares rose about 4.4% in Friday morning trading. Royalties from Johnson & Johnson's Darzalex, which generated $8.17 billion in sales, and Novartis' Kesimpta fueled the growth, while EPKINLY and TEPKINLY revenue surged 48% to $312 million. Adjusted operating profit rose 18% to $656 million, but reported operating profit edged up just 1% to $555 million due to integration costs and higher amortization. Management also lifted adjusted operating-profit guidance to $1.225 billion, even as operating expenses climb to support the launch of Rina-S and petosemtamab.

The head and neck squamous cell carcinoma market is projected to grow at a compound annual growth rate of 10.5% during the 2026 to 2036 forecast period, driven by the launch of emerging novel immunotherapies. The market size across the seven major markets—the United States, the EU4 (Germany, France, Italy, and Spain), the United Kingdom, and Japan—was valued at USD 850 million in 2025, with the United States accounting for the largest share. Key therapies in development include Amivantamab from Johnson & Johnson, BNT113 from BioNTech, Petosemtamab from Genmab, and Eftilagimod Alfa from Immutep, among others. The total incident cases of head and neck squamous cell carcinoma in the seven major markets were approximately 153,500 in 2025. KEYTRUDA generated the highest revenue among all therapies for the disease in the United States that year.

Genmab announced that worldwide net trade sales of DARZALEX, as reported by Johnson & Johnson, reached USD 4,207 million in the second quarter of 2026. Net trade sales were USD 2,435 million in the U.S. and USD 1,772 million in the rest of the world. Genmab receives royalties on the worldwide net sales of DARZALEX, both the intravenous and subcutaneous products, under an exclusive worldwide license to Johnson & Johnson.

AbbVie shares fell 1.30% to $244.78 in Tuesday afternoon trading, marking a seventh straight session of losses. The stock has declined 5.1% over the past six sessions, while the S&P 500 gained 0.44%. The slide follows the company's July 6 revision of its second-quarter adjusted diluted EPS guidance to $3.57–$3.61 and full-year guidance to $13.91–$14.11, both below consensus, after recording a $291 million pre-tax acquired IPR&D and milestones expense. Separately, AbbVie and Genmab received European Commission approval for an expanded label for Tepkinly based on Phase 3 trial data. Seeking Alpha analyst Justin Miller maintained a Buy rating, citing the proposed $10.9 billion acquisition of Apogee Therapeutics as strengthening the immunology franchise, while Seeking Alpha's Quant Rating assigns a Hold rating of 3.28.

The head and neck squamous cell carcinoma market is projected to grow at a compound annual growth rate of 10.5% during the 2026–2036 forecast period, driven by the launch of emerging novel immunotherapies. The market size across the seven major markets—the United States, the EU4 (Germany, France, Italy, and Spain), the United Kingdom, and Japan—was estimated at USD 850 million in 2025, with the United States accounting for the largest share. Key therapies in development include Amivantamab from Johnson & Johnson, BNT113 from BioNTech, CUE-101 from Cue Biopharma, Petosemtamab from Genmab, and Eftilagimod Alfa from Immutep, among others. The total incident cases of head and neck squamous cell carcinoma in the seven major markets were approximately 153,500 in 2025. Growth is further supported by rising cancer incidence, increasing adoption of immunotherapies and targeted therapies, and a robust pipeline of investigational drugs.

The European Commission has granted marketing authorization for TEPKINLY in combination with lenalidomide and rituximab for adults with relapsed or refractory follicular lymphoma. The approval is based on the Phase 3 EPCORE FL-1 trial, where the fixed-duration combination reduced the risk of disease progression or death by 79% compared to lenalidomide and rituximab alone, with an overall response rate of 96% and a complete response rate of 74%. Genmab and AbbVie co-develop epcoritamab, with AbbVie responsible for global commercialization outside the U.S. and Japan. The regimen is the first bispecific-based therapy approved in Europe for follicular lymphoma in the second-line setting, offering a chemotherapy-free option.

AbbVie announced that the Phase 3 EPCORE DLBCL-4 trial evaluating epcoritamab in combination with lenalidomide in adult patients with relapsed or refractory diffuse large B-cell lymphoma met its primary endpoint, demonstrating a statistically significant and clinically meaningful improvement in progression-free survival. The global open-label trial compared the chemotherapy-free combination of subcutaneous epcoritamab plus oral lenalidomide against chemoimmunotherapy with rituximab, gemcitabine, and oxaliplatin. The risk of disease progression and death was reduced by 60% and 56%, respectively, under different censoring rules in the U.S. and outside the U.S. The safety profile of the combination was consistent with the known profiles of the individual agents. AbbVie and Genmab continue to evaluate epcoritamab as monotherapy and in combination across a range of hematologic malignancies.