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BRIEF-Genmab And AbbVie Announce Broad Oncology Collaboration

June 10 (Reuters) - Genmab A/S:

* REG-GENMAB AND ABBVIE ANNOUNCE BROAD ONCOLOGY COLLABORATION

* REG-GENMAB AND ABBVIE ANNOUNCE BROAD ONCOLOGY COLLABORATION

* GENMAB AND ABBVIE ENTERED INTO A BROAD COLLABORATION TO JOINTLY DEVELOP AND COMMERCIALIZE THREE OF GENMAB’S NEXT-GENERATION BISPECIFIC ANTIBODY PRODUCTS, INCLUDING EPCORITAMAB

* COMPANIES ESTABLISH A DISCOVERY RESEARCH COLLABORATION TO CREATE ADDITIONAL DIFFERENTIATED ANTIBODY THERAPEUTICS FOR CANCER

* ABBVIE TO PAY GENMAB AN UPFRONT PAYMENT OF USD 750 MILLION WITH TOTAL POTENTIAL MILESTONE PAYMENTS OF UP TO USD 3.15 BILLION

* AS A RESULT OF THIS AGREEMENT, GENMAB IS IMPROVING ITS FINANCIAL GUIDANCE FOR 2020.

* WE EXPECT OUR 2020 REVENUE TO BE IN RANGE OF DKK 9,100 - DKK 9,500 MILLION, AN INCREASE OF DKK 4,350 MILLION COMPARED TO OUR PREVIOUS GUIDANCE.

* WE ANTICIPATE OUR 2020 OPERATING EXPENSES WILL CONTINUE TO BE IN RANGE OF DKK 3,850 - 3,950 MILLION

* GENMAB A/S - WE NOW EXPECT OUR OPERATING INCOME TO BE APPROXIMATELY DKK 5,200 TO DKK 5,600 MILLION IN 2020.

* FINANCIAL GUIDANCE ASSUMES THAT NO SIGNIFICANT NEW AGREEMENTS ARE ENTERED INTO DURING 2020 THAT COULD MATERIALLY AFFECT RESULTS. Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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