Slide 1: Year End Results
Year End Results Period Ended December 31, 2023
Slide 2: Forward looking statement
Forward looking This presentation contains forward looking statements. The words “believe”, “expect”, development, uncertainties related to the outcome of clinical trials, slower than expected statement “anticipate”, “intend” and “plan” and similar expressions identify forward looking statements. ra
Slide 3: Strategic Partnerships, Collaborations, and Licensing Agreements
As part of Genmab’s Full Year 2023 Results presentation, we will discuss Strategic several products developed in collaboration with strategic partners or that Partnerships, are the result of product or technology licenses with other companies. This slide is an acknowledgement of those relationships.
Slide 4: Evolving Into a Fully Integrated Biotech Innovation Powerhouse: The Genmab Model
Evolving Into a Fully Integrated Biotech Innovation Powerhouse: The Genmab Model Deep insight into Proprietary antibody biology technologies & disease targets enable us to build a world-class pipeline Match in-house expertise Strong pipeline of with strategic collaborations potential first-in-class
Slide 5: EPKINLY/TEPKINLY (epcoritamab) Approved in the U.S., Europe and Japan
EPKINLY/TEPKINLY (epcoritamab) Approved in the U.S., Europe and Japan Approved in U.S., Europe, Japan and other territories1 First bispecific antibody in U.S. to treat adults with R/R DLBCL1 U.S. FDA granted BTD in R/R FL EMA validated Type II variation application in R/R FL First and only S
Slide 6: Genmab in 2023: Driving Towards Our 2030 Vision
Genmab in 2023: Driving Towards Our 2030 Vision Other Accomplishments that Strengthen Our Foundation, Support Our Future Success Maturing Pipeline Expanding Pipeline Expanding Capabilities & Solid Foundation • Tivdak • Pipeline Progress – Upgraded to preferred regimen in – DuoBody-CD40x4-1BB • Expan
Slide 7: Royalty Medicines Portfolio Performance
Royalty Medicines Portfolio Performance Net sales Darzalex • Leader across lines of therapy; 1L share gains driven by long Q4 FY 2023 term OS data • PERSEUS filed in transplant eligible MM incl maintenance $2.55B $9.74B Kesimpta • Strong US & ex-US growth driven by increased demand and strong access
Slide 8: Launch/In-Market Medicines Performance Summary
Launch/In-Market Medicines Performance Summary Total Worldwide Net sales* Q4 FY 2023 Q4 FY 2023 $36M $64M $25M $90M (n/a) (n/a) +41% YoY +42% YoY First bispecific antibody approved in US & Japan for B-cell malignancies Clear answer in 2L+ cervical cancer • Strong early launch performance in US, Japa
Slide 9: 2023: Driving Towards Our 2030 Vision
2023: Driving Towards Our 2030 Vision EPKINLY/TEPKINLY Regulatory Approvals & Launches 22% increase in recurring revenues Focused Investment: expanding and accelerating our differentiated pipeline and our capabilities Building the team for continued success © Genmab 2024 9 For Investor audience only
Slide 10: Royalties and Net Product Sales & Collaboration Revenue Drive 14% YoY Total Revenue Growth
Royalties and Net Product Sales & Collaboration Revenue* Drive 14% YoY Total Revenue Growth Revenue, DKK Millions +14% 22% Recurring Revenue growth from Royalties 16,474 and Net Product Sales & Collaboration Revenue 2,041 14,505 728 2,703 Higher DARZALEX Royalties from 22% YoY Net 220 Sales growth
Slide 11: 2023 Prioritized Investments in Pipeline and Capabilities
2023 Prioritized Investments in Pipeline and Capabilities Operating Expenses, DKK Millions Operating Expense growth of 33% (370) 10,927 1,007 Securing EPKINLY launch, including building out 2,052 our 2 key markets – United States and Japan 8,238 Advancing Portfolio Expanding development programs –
Slide 12: 2023 Key Figures: Strong Financial Performance
2023 Key Figures: Strong Financial Performance • 14% increase in revenue & 22% increase in recurring revenue • 33% growth in investment driven by pipeline expansion and EPKINLY launch activities *USD 1.00 = DKK 6.7447 (Danish Central Bank spot rate on December 31, 2023) **Net Product Sales and Colla
Slide 13: Robust Financial Framework
Robust Financial Framework Recurring Revenue Growth Focused Investment 8 approved products generating significant and growing Accelerating & expanding development of epcoritamab revenues - Multiple Phase 3 and other studies to start - Investing in EPKINLY launch in U.S. and Japan Genmab produc
Slide 14: 2024 Guidance Summary
2024 Guidance Summary Total revenue growth higher in YoY Growth Rates 2023 2024* 2024 and exceeds OPEX growth Revenue 14% 19% Operating expense growth down significantly YoY in % and DKK Recurring Revenue 22% 25% terms Operating Expenses 33% 18% Double digit operating profit growth of 10% Operating
Slide 15: Double digit Revenue Growth in 2024 of ~19%
Double digit Revenue Growth in 2024 of ~19%* Revenue, DKK Billions +19% 19.6* DKK 18.7B – 20.5B of revenue expected in 2024 1.5 16.5 1.9 DARZALEX net sales of USD 10.9B to USD 11.5B 2.1 0.7 ~25%* increase in Royalties and Net Product Sales & Collaboration revenue** Recurring DARZALEX royalties of
Slide 16: 2024 Operating Expense growth expected to be ~18%
2024 Operating Expense growth expected to be ~18%* Operating Expenses, DKK Billions 12.9* 0.4 DKK 12.4B – 13.4B in operating expenses expected 10.9 1.6 in 2024 Key near-term investment priorities Continued commercialization, development and expansion of EPKINLY Acasunlimab, Tivdak, DuoBody-CD40x
Slide 17: Key Drivers of Investments in 2024 vs. 2023
Key Drivers of Investments in 2024* vs. 2023 YoY DKK B Portfolio Advancement 1.6 Expanding mid / late-stage development programs – Epcore, Tivdak, Acasunlimab (GEN1046) and GEN1042 Discovery and Early-stage development advancement Team growth to support portfolio advancement Commercialization
Slide 18: 2024 Guidance: Double Digit Operating Profit Growth
2024 Guidance: Double Digit Operating Profit Growth 2024 2023 2023 2024 Genmab Net Product Sales/Collaboration Key Figures (DKKM) 2024 Guidance Guidance Actual Growth % Growth %* Revenue increasingly contributing to Mid - Point revenue growth Revenue 16,474 18,700 – 20,500 19,600 14% 19% Royalties 1
Slide 19: Capital Allocation Summary
Capital Allocation Continued Investment in Our Summary Proprietary Pipeline & Technology Platforms Pursuing Focused Business Development & M&A Opportunities ~USD 500M Share Buyback* *At the Annual General Meeting on 13 March 2024, the © Genmab 2024 19 Board of Directors will propose a share buy back
Slide 20: Summary
Summary Clear path to reach our 2030 Vision Growing recurring revenue streams and significant underlying profitability Focused and disciplined investment approach Significant growth opportunities supported by our Capital allocation Strategy © Genmab 2024 20 For Investor audience only. Not fo
Slide 21: 2024 Priorities
Further Advancing Our Differentiated 2024 Priorities: Product Pipeline Towards The Market Invest in Our People, Culture & Society Further scale organization aligned with differentiated Bring Our Own Medicines to Patients & Build World-class Differentiated antibody product portfolio Expand Our Market
Slide 22: Q&A Upcoming Investor Events
Q&A Upcoming Investor Events • Genmab Annual General Meeting, March 13, 2024 • UBS European Healthcare Conference, February 28, 2024 • COWEN 44th Annual Healthcare Conference, March 6, 2024 genmab.com © Genmab 2024. All rights reserved. These materials may not be distributed or reproduced, in whole