Cost controls pay off as Genmab sales improve

Published: 26-Aug-2009
Media Research & Development

Danish biotech company Genmab reduced its operating loss to DKK326m (US$62m) for the six months to 30 June as sales climbed by 25% to DSK348m (US$66m).


Danish biotech company Genmab reduced its operating loss to DKK326m (US$62m) for the six months to 30 June as sales climbed by 25% to DSK348m (US$66m).

The Copenhagen-based company said the improvement was mainly related to increased revenues compared with the same period in 2008, as well as a strong focus on cost savings and control.

Genmab has revised its expectations for the full year, forecasting that 2009 revenue will be approximately DKK750m (US$143m), compared with a previous estimate of DKK1.2bn (US$230m). The company said the reduction in revenue would mainly be due to the exclusion of a milestone payment under the Arzerra (ofatumumab) collaboration with GlaxoSmithKline.

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