MedWatch

Organizational expansion sends Genmab costs soaring

The Danish biotech company has needed more hands on deck to help with something it has never done before: partnering up to commercialize of one of its own products.

Photo: Tuala Hjarnø / Genmab / PR

Genmab has been busy finding new staff after the successful launch of cervical cancer drug Tivdak (tisotumab vedotin) – the first product that the Danish biotech company is a part of commercializing itself.

Such efforts take their toll, which is evident in the company’s recently released second-quarter report from Wednesday, where Genmab revealed that general expenses relating to selling and administration have gone up 133% in the first half of 2022 compared to the same period in 2021, increasing costs by DKK 630m to DKK 1.1bn (USD 87.4m to USD 152.6m).

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