Argenx's Vyvgart sales jump in second quarter, shares climb
Strong Performance and Strategic Expansion Drive Growth
(Corrects CFO name to Karl Gubitz)
By Lucie Barbier
Vyvgart Sales Surge in Q2 2026
July 23 (Reuters) - Belgian-Dutch immunology company argenx said on Thursday that global sales of its lead drug Vyvgart jumped in the second quarter of 2026 from a year earlier, sending its shares higher.
Vyvgart sales came in at $1.516 billion in the second quarter, up 60% from $949 million a year earlier, as the company continued to expand autoimmune treatment in generalised myasthenia gravis (gMG) and chronic inflammatory demyelinating polyneuropathy (CIDP).
Shares were up around 5% to €787.4 in early Brussels trading.
Analyst Insights and Margin Growth
Analysts at stock broker Kempen noted that margins continued to inch upward, to around 33% compared with 30% last quarter, and said in a note that the company could ultimately achieve margins above industry averages if "operational excellence" is maintained.
Product Label Expansion and Market Penetration
Broadened Indication for Vyvgart
During the quarter, the company broadened Vyvgart's label in the United States to cover all gMG serotypes, giving the drug the broadest label in the indication.
Strategies for Deeper Market Penetration
After scaling the brand in gMG and CIDP, argenx is seeking to deepen penetration through additional administration options and potential label expansions.
Self-Injection Drives Growth
Karl Gubitz, argenx's chief financial officer, told Reuters that growth was driven by the prefilled syringe for self-injection, with patients and physicians attracted by its convenience.
Competitive Landscape and Expansion Potential
In an increasingly competitive market for gMG treatments, Gubitz said rivals were "all behind Vyvgart" and added that only 20% of patients with gMG are currently on novel biologics, leaving room for expansion.
Pipeline and Future Outlook
Diversification Beyond Vyvgart
The company is also looking to prove it can become more than a one-franchise biotech firm through pipeline assets such as empasiprubart and other earlier-stage immunology programmes.
Long-Term Growth Prospects
For Gubitz, Vyvgart is "a once-in-a-decade drug" that builds companies and has positioned argenx to deliver growth in the short-, medium- and long-term.
Upcoming Clinical Milestones
Later this quarter, argenx expects Phase 3 results in myositis and a readout for empasiprubart in multifocal motor neuropathy, while additional catalysts are expected next year.
Gubitz said the company wanted to show that what it had done with Vyvgart was "repeatable and scalable" with a second asset.
(Reporting by Lucie Barbier; Editing by Kate Mayberry and Subhranshu Sahu)
