MedWatch

Genmab CEO says lower operating costs are a fleeting phenomenon

Genmab has revised its 2021 forecast for operating expenses, which includes research and development costs. Though whatever has been saved goes straight to next year, says the company's president and CEO, who points to Covid-19 as the cause for spending delays.

Photo: Tuala Hjarnø / Genmab / PR

Before Wedneday's quarterly report from Genmab was released, the biotech company had already upgraded its 2021 financial guidance for revenue and operating result.

Last week, the company decided to adjust its full-year guidance upward, with new estimated operating results of DKK 2.3-3.2bn (USD 354.7-493.5m) from a revised revenue of DKK 7.9-8.5bn (USD 1.2-1.3bn). The previous guidance estimated operating results of DKK 1.5-2.4bn (USD 231.2-369.9m) from a total predicted revenue of DKK 7.3-7.9bn (USD 1.1-1.2bn).

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