Genmab A/S disclosed that its flagship antibody, DARZALEX, generated $14.351 billion in worldwide net sales for the full year 2025, a 23.8% increase from $11.67 billion in 2024. The growth reflects continued expansion of the drug across multiple myeloma treatment settings and the rapid uptake of the subcutaneous formulation, DARZALEX FASPRO, in the United States.
The 2025 sales were split between the U.S. and the rest of the world, with $8.266 billion coming from the U.S. market and $6.085 billion from international markets. The U.S. segment grew 24.5% YoY, driven by higher prescription volumes and the convenience of the subcutaneous option, while international sales rose 22.1% as the drug’s global distribution network expanded.
DARZALEX remains Genmab’s primary royalty generator, underpinning the company’s financial stability and providing the cash flow needed to fund its late‑stage pipeline. The 23.8% YoY sales growth supports Genmab’s 2025 revenue guidance of $3.5‑$3.7 billion and reinforces confidence in the company’s ability to sustain growth through its portfolio of commercialized products, including Epkinly and Tivdak, which together contributed roughly 29% of total revenue growth in Q1 2025.
The partnership with Johnson & Johnson’s Janssen Biotech, which handles commercialization and distribution, has been a key driver of DARZALEX’s global reach. The subcutaneous formulation’s success has accelerated market penetration, while Genmab’s ongoing development of assets such as Rina‑S and akasunlimab positions the company for continued revenue expansion. In addition, Genmab’s proposed acquisition of Merus N.V. is expected to accelerate its transition to a wholly‑owned model and add late‑stage assets to its portfolio.
With a cash balance exceeding $3 billion at the end of Q1 2025, Genmab has the financial flexibility to pursue strategic initiatives, including the Merus acquisition and further pipeline development. The strong DARZALEX performance, combined with robust cash reserves, signals a solid foundation for the company’s long‑term growth strategy.
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