Genmab CEO Jan van de Winkel spoke during the second day at the 44th Annual J.P. Morgan Healthcare Conference on the company’s new positioning following a fundamental revison of the business as it enters 2026.

Van de Winkel framed the coming year as a defining inflection point, with Genmab poised to convert a diversified revenue base and three high-impact late-stage assets into sustained growth through the next decade.

During his opening remarks, van de Winkel outlined how the recent series of strategic acquisitions have reshaped Genmab’s profile, driving the company to expand its commercial footprint while also deepening its late-stage pipeline.

According to Van de Winkel, Genmab is set to enter 2026 with an improved balanced across its earnings, mixing royalties and proprietary product sales with nine medicines that currently generate revenue, including co-owned products such as Kesimpta and Tivdak.

At the center of the company’s transition are three late-stage oncology programs, Epkinly, Rinatabart sesutecan (Rina-S), and petosemtamab that collectively carry five FDA breakthrough therapy designations and multibillion-dollar commercial potential.

Van de Winkel described 2026 as a catalyst-rich year, with multiple registrational readouts expected and additional Phase III studies planned to broaden each asset’s addressable market ahead of potential launches beginning in 2027. The company expects several Phase III readouts in diffuse large B-cell lymphoma in 2026, including frontline and second-line settings, which could dramatically expand the treatable patient population.

Beyond individual assets, Van de Winkel repeatedly underscored the strategic importance of its diversified revenue model, with CFO Anthony Picanò highlighting consistent quarter-over-quarter growth in royalty income, helping to continue Genmab’s fund for aggressive late-stage developments, while simultaneously reducing its dependence on any single product. Picanò continued to mention that the financial flexibility allows Genmab to invest heavily in priority programs while still maintaining discipline around capital allocation and operating efficiencies.

During the Q&A session, Van de Winkel addressed questions surrounding pipeline prioritization following acquisitions (such as Merus), signaling the company’s willingness to rationalize programs in favor of those with the highest clinical and commercial impact. During the conversation, Van de Winkel noted that Genmab has applied the same disciplined approach as previous acquisitions, aiming to rapidly advance high-conviction assets while deprioritizing others in an increasingly competitive therapeutic landscape.

As mentioned during the presentation, Genmab’s priorities heading into 2026 are as follows:

• Maximize potential of commercialized medicines Epkinly and Tivdak.¹
• Accelerate development of late-stage pipeline assets: Rina-S.¹
• Focus investments to optimize growth strategy.¹
• Deliver on financial commitments and capital allocation strategy.¹
• Rapid integration of Merus.¹

As van de Winkel concluded, Genmab enters 2026 as a different company than it was a decade ago, noting the scale, pipeline depth, and operational infrastructure to deliver on its ambitions as some of the key differences. “This is no longer a story about promise, but one about translating antibody science into durable value for patients and shareholders alike,” said van de Winkel.

Genmab is expecting up to six potential registrational readouts in 2026 across its royalty and proprietary portfolios, setting the stage for multiple launches and line extensions in 2027. Management reiterated confidence that execution, rather than discovery, will be the defining variable over the next phase of growth.

Sources

1. Genmab AS 44^th Annual J.P. Morgan Healthcare Conference Genmab January 13, 2026 https://jpmorgan.metameetings.net/events/healthcare26/sessions/317543-genmab-as/webcast?gpu_only=true&kiosk=true