J P M O R G A N Europe Equity Research 15 July 2026 Genmab A/S Q2'26 First Take from JNJ: Darzalex 3% beat vs. GMAB consensus, expected Darzalex guidance upgrade implies modest upside to cons Dara expectations Our Take: Ahead of Genmab's detailed Q2'26 results on August 6, JNJ (covered by Chris Schott) has reported Q2'26 Darzalex sales of $4,207m, 3% above Genmab consensus of $4,074m (in line with JNJ BBG consensus) and 5% ahead of JPMe. The beat vs. JPMe was driven by US sales of $2,435m, which came in 7% ...