Genmab AS

GMAB: XCSE (DNK)

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Narrow-Moat Genmab Benefits From Strong Demand for Darzalex as Pipeline Makes Progress

Rachel Elfman

Mar 6, 2025

Business Strategy and Outlook

Genmab is focused on the development of monoclonal antibody and bispecific antibody therapies in oncology indications. The company's best-known drug, Darzalex (or daratumumab), was developed in partnership with Johnson & Johnson for multiple myeloma. Darzalex is entrenched in multiple myeloma care for several lines of therapy, including the frontline setting. Additionally, Darzalex is often used in combination treatments, unlocking even greater market potential. Genmab receives royalties of up to 20% from J&J on Darzalex sales, plus milestones from the company's antibody platform partnerships.

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Genmab AS

Narrow-Moat Genmab Benefits From Strong Demand for Darzalex as Pipeline Makes Progress

Business Strategy and Outlook

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