Updated guidance, Epinkly sales boost Genmab shares
08/11/2023 09:02
** Shares in Genmab GMAB.CO rise 8% after the Danish
pharma company posted on Tuesday after market close its Q3
results and hiked the lower end of its 2023 revenue guidance
** The group reported quarterly revenue of DKK 4.74 billion,
up 16% y/y, and said it now sees revenue for the full year to be
in the range of DKK 15.90 – 16.50 billion against earlier view
of DKK 15.50 – 16.50 billion
** Sydbank notes that better-than-expected sales growth
during the quarter is "a consequence of both higher royalties
earnings and milestone payments," with Darzalez royalty income
and Epinkly development playing a significant role
** The brokerage adds that Epinkly's reception, following
its approval in the US just before peer Roche's RBO.PA
Columvi, has been encouraging, bringing in DKK 150 million and
exceeding expectations
** The stock is on track for its best day since March 2020
and among best performers of pan-European STOXX 600 index
.STOXX
(Reporting by Jesus Calero)
((Jesus.calero@thomsonreuters.com))