Genmab — Interim / Quarterly Report 2017

Nov 8, 2017

November 8, 2017; Copenhagen, Denmark;

Interim Report for the First Nine Months Ended September 30, 2017

Highlights

-- USD 871 million in net sales of DARZALEX® (daratumumab); resulting in
royalty income of DKK 707 million
-- DARZALEX approved for relapsed or refractory multiple myeloma in Japan
-- Announced positive topline results in Phase III ALCYONE study of
daratumumab in front line multiple myeloma
-- Seattle Genetics exercised its option to co-develop tisotumab vedotin with
Genmab

“This past quarter we continued to focus on progressing our innovative antibody
pipeline. DARZALEX received its first approval in Japan, for the treatment of
relapsed or refractory multiple myeloma. We also reported exciting data from
the Phase III ALCYONE study of daratumumab in front line multiple myeloma.
Finally, we were pleased to announce that Seattle Genetics exercised its option
to co-develop tisotumab vedotin and we very much look forward to our
collaboration to rapidly bring this product into the next stages of clinical
evaluation,” said Jan van de Winkel, Ph.D., Chief Executive Officer of Genmab.

Financial Performance First Nine Months of 2017

-- Revenue was DKK 1,348 million in the first nine months of 2017 compared to
DKK 889 million in the first nine months of 2016. The increase of DKK 459
million, or 52%, was mainly driven by higher DARZALEX royalties and
milestones.
-- Operating expenses were DKK 707 million in the first nine months of 2017
compared to DKK 544 million in the first nine months of 2016. The increase
of DKK 163 million, or 30%, was due to the additional investment in our
pipeline of products, including the advancement of tisotumab vedotin,
HexaBody®-DR5/DR5, DuoBody®-CD3xCD20, and other products in our pipeline.
-- Operating income was DKK 641 million in the first nine months of 2017
compared to DKK 345 million in the first nine months of 2016. The increase
of DKK 296 million, or 86%, was driven by higher revenue, which was partly
offset by increased operating expenses in 2017.
-- On September 30, 2017, Genmab had a cash position of DKK 5,184 million
compared to DKK 3,922 million at December 31, 2016. This represented a net
increase of DKK 1,262 million, which was mainly driven by positive working
capital adjustments of DKK 575 million related to milestones achieved in
the fourth quarter of 2016 that were received in 2017, our operating income
of DKK 641 million, and proceeds from the exercise of warrants of DKK 208
million.

Outlook

Genmab is maintaining its 2017 financial guidance published on February 22,
2017 and reiterated on September 27, 2017.

Conference Call

Genmab will hold a conference call in English to discuss the results for the
first nine months of 2017 today, Wednesday, November 8, at 6.00 pm CET, 5.00 pm
GMT or 12.00 pm EDT. The dial in numbers are:

+1 646 254 3360 (US participants) and ask for the Genmab conference call
+44 20 3427 1910 (international participants) and ask for the Genmab conference
call

A live and archived webcast of the call and relevant slides will be available
at www.genmab.com.

Contact:
Rachel Curtis Gravesen, Senior Vice President, Investor Relations &
Communications

T: +45 33 44 77 20; M: +45 25 12 62 60; E: r.gravesen@genmab.com

The interim report contains forward looking statements. The words “believe”,
“expect”, “anticipate”, “intend” and “plan” and similar expressions identify
forward looking statements. Actual results or performance may differ materially
from any future results or performance expressed or implied by such statements.
The important factors that could cause our actual results or performance to
differ materially include, among others, risks associated with product
discovery and development, uncertainties related to the outcome and conduct of
clinical trials including unforeseen safety issues, uncertainties related to
product manufacturing, the lack of market acceptance of our products, our
inability to manage growth, the competitive environment in relation to our
business area and markets, our inability to attract and retain suitably
qualified personnel, the unenforceability or lack of protection of our patents
and proprietary rights, our relationships with affiliated entities, changes and
developments in technology which may render our products obsolete, and other
factors. For a further discussion of these risks, please refer to the section
“Risk Management” in Genmab’s annual report, which is available on
www.genmab.com and the “Significant Risks and Uncertainties” section in the
interim report. Genmab does not undertake any obligation to update or revise
forward looking statements in this interim report nor to confirm such
statements in relation to actual results, unless required by law.

Genmab A/S and its subsidiaries own the following trademarks: Genmab®; the
Y-shaped Genmab logo®; Genmab in combination with the Y-shaped Genmab logo™;
the DuoBody logo®; the HexaBody logo™; HuMax®; HuMax-CD20®; DuoBody®; HexaBody®
and UniBody®. Arzerra® is a trademark of Novartis AG or its affiliates.
DARZALEX® is a trademark of Janssen Biotech, Inc.

Download the full Interim Report for the first nine months of 2017 on
attachment or at www.genmab.com.

CVR no. 2102 3884
LEI Code 529900MTJPDPE4MHJ122

Genmab A/S
Kalvebod Brygge 43
1560 Copenhagen V
Denmark