Genmab H1 top line up big on upfront payment from AbbVie

Danish biotech Genmab (GMAB +0.6%) reports H1 results. Highlights:

Revenue: DKK 6,343M (+364.7%). Increase driven primarily by the upfront payment related to the AbbVie collaboration ($750M or about DKK 4,688M) and higher Darzalex royalties.

Net Darzalex sales by Johnson & Johnson: $1,838M (+31.0%).

Operating income: DKK 4,568M (+999%).

2020 guidance (DKK): Revenue: 9,100M – 9,700M from 9,100M – 9,500M; operating income: 5,200M – 5,800M from 5,200M – 5,600M. Current revenue consensus is 9,438M.

https://seekingalpha.com/news/3604670-genmab-h1-top-line-up-big-on-upfront-payment-from-abbvie