Genmab (GMAB) Investor presentation summary

Strategic growth and portfolio overview

• Nine marketed medicines and two co-owned products drive diversified revenue streams.

• Three late-stage assets with five FDA Breakthrough Therapy Designations are positioned for multiple potential 2027 launches.

• Revenue is balanced between proprietary and royalty-based products, with a focus on expanding the owned portfolio by 2030.

• Integration of Merus and development of petosemtamab are key to accelerated growth and profitability.

• Disciplined investment in late-stage pipeline supports sustainable growth and targets gross leverage below 3x by 2027.

Pipeline and clinical development

• Epcoritamab (EPKINLYⓇ) and Rina-SⓇ are leading late-stage programs with multibillion-dollar peak sales potential.

• Up to six registrational readouts are expected in 2026, enabling potential 2027 launches for key assets.

• Ongoing Phase 3 trials target large patient populations in lymphoma, gynecologic oncology, and head and neck cancer.

• Multiple proprietary and partnered assets are in advanced clinical phases, including collaborations with AbbVie, Pfizer, and BioNTech.

• Early development assets and productivity programs are in place to sustain growth through the 2030s.

Financial performance and guidance

• 2026 revenue guidance projects 14% growth, reaching $4,230 million at the mid-point.

• Gross profit is expected to rise to $3,960 million, with operating profit guidance of $1,040 million at the mid-point.

• Over 90% of increased operating expenses are allocated to late-stage development and launch readiness for petosemtamab and Rina-SⓇ.

• Royalty portfolio, including DARZALEX, Kesimpta, and TEPEZZA, is projected to deliver strong sales growth through 2030.

• Profitability is maintained through operating discipline and prioritization of high-value programs.