Genmab lifts revenue 19% in first quarter on royalties and Epkinly uptake
Genmab (Nasdaq: GMAB) posted a 19% rise in revenue to $715 million for the first quarter of 2025, driven by higher royalties and increasing sales of its lymphoma therapy Epkinly (epcoritamab). Earnings before interest and taxes rose to $188 million, up from $116 million a year earlier.
The Copenhagen-based biotech said the main contributors to revenue growth were royalties from Johnson & Johnson’s (NYSE: JNJ) Darzalex (daratumumab) and Novartis’ (NOVN: VX) Kesimpta (ofatumumab), along with product sales of Epkinsly. Royalty income increased 30% to $589 million, reflecting strong partner sales performance.
Operating expenses also rose, up 8% to $527 million, due in part to profit-sharing with AbbVie (NYSE: ABBV) on Epkinly, and costs related to pipeline expansion and organizational development.
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