Biotech firm Argenx nearly doubles revenue to over 4bn dollars
Belgian biotech firm Argenx said its revenue rose by almost 90 per cent last year to more than 4 billion dollars, driven by strong sales of its drug Vyvgart.
The Ghent-based listed company reported preliminary sales of 4.15 billion dollars from medicines, equivalent to about 3.5 billion euros. In the final quarter alone, revenue reached 1.29 billion dollars, beating analysts’ expectations.
Argenx currently has one commercial drug, Vyvgart, which is used to treat around 19,000 patients worldwide. The medicine is approved for the rare muscle disease myasthenia gravis and the nerve condition CIDP, and in Japan for the blood disorder ITP.
Chief executive Tim Van Hauwermeiren said the company was running studies to expand Vyvgart to more conditions and is also developing new medicines. Argenx aims to launch several new treatments from 2027, potentially helping more than 50,000 patients.
The company is also preparing a leadership change. Co-founder and current CEO Van Hauwermeiren will step aside after 18 years to become chair of the board. Chief operating officer Karen Massey is set to take over as CEO.
The changes will be proposed to shareholders at the annual meeting on 6 May. Massey, who previously worked at Roche and Pfizer, will become only the second CEO in the company’s history.
Full annual results will be published in February
#FlandersNewsService | © BELGA PHOTO ANTHONY DEHEZ
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