COPENHAGEN May 7 Danish biotech company Genmab
posted a 231 percent jump in first-quarter operating
profit, mainly driven by increased revenue related to its
collaboration with Janssen, a part of Johnson & Johnson,
the company said on Wednesday.
The company, whose only drug on the market is blood cancer
treatment Arzerra, lifted its operating profit to 96 million
Danish crowns ($17.9 million) from 29 million a year before.
Revenue increased by 87 million crowns to 247 million
crowns, mainly driven by a 119 million milestone payment
received from Janssen in March..
The company kept its 2014 operating income outlook of
between 140 million crowns and 210 million, having upgraded it
earlier this month..
Genmab also expects 2014 operating expenses in a range of
600 million crowns to 650 million.
($1 = 5.3612 Danish Crowns)
(Reporting by Stine Jacobsen; Editing by David Holmes)