Genmab’s DARZALEX Hits $14.35B Sales; Price Targets Adjusted to $38.50-$39
Genmab’s J&J-partnered DARZALEX achieved $14.351 billion in worldwide net trade sales in 2025, with $8.266 billion in the U.S. and $6.085 billion in other markets, underpinning royalty revenues for Genmab. H.C. Wainwright cut its price target to $39, while BofA raised it to $38.50 and maintained Buy ratings.
1. DARZALEX 2025 Sales and Royalties
Genmab’s partnered product DARZALEX generated $14.351 billion in net trade sales in 2025, comprising $8.266 billion in U.S. revenue and $6.085 billion internationally. Genmab earns royalties on both intravenous and subcutaneous formulations under its exclusive license agreement with J&J.
2. Analyst Price Target Revisions
H.C. Wainwright lowered its price target on Genmab shares from $41 to $39 while affirming a Buy rating. BofA raised its target from $34.70 to $38.50, citing a catalyst-rich 2026 pipeline and forecasting each major catalyst could yield up to $2 billion in peak sales.
3. Pipeline Developments and Future Catalysts
The EPCORE DLBCL-1 lymphoma trial missed its primary endpoint, yet Genmab’s Epkinly therapy remains on track for potential full approval. Other pipeline products include TEPEZZA for thyroid eye disease and Arzerra for chronic lymphocytic leukemia, supporting the company’s long-term growth prospects.