Genmab Earnings: Robust Darzalex Royalty Revenue Supports Future Growth; Shares Undervalued
Darzalex, which is partnered with wide-moat Johnson & Johnson, remains entrenched in the standard of care for multiple myeloma. It has continued to gain market share, driven by positive long-term overall survival data and strong adoption of Darzalex Faspro, a new subcutaneous formulation. Our narrow moat rating for Genmab is based on the company's intangible assets from the development of its cancer antibody therapeutics and strong patents covering Darzalex that do not begin to expire until 2031.