Genmab — Februar 2021

[JørgenVarnæs]

A yearly royalty rate of 16,12%

[E_L]

are you calculating the USD back from the DKK amounts you had?

[E_L]

this may paste messy, but i'll try:

[E_L]

$750.000.000 12% $90.000.000
$1.500.000.000 13% $97.500.000
$2.000.000.000 16% $80.000.000
$3.000.000.000 18% $180.000.000
$4.190.000.000 20% $238.000.000

[E_L]

Royalties 2020: $685.500.000

[E_L]

hey that is not so bad Total

[JørgenVarnæs]

With the Q2 once-in-a-lifetime-every-year adjustment we could be talking about the same nos

[JørgenVarnæs]

And with the USDDKK being much lower in H2 is seems right my nos are lower than yours

[JørgenVarnæs]

...and look what’s happening in the market right now...

[E_L]

yeah it took out the stops below 2066, first bottom attempt

[E_L]

breaking the short term down-trend line from friday. see if that holds now
.

[JørgenVarnæs]

Also it seems royalties are calculated on a yearly basis but paid on a quarterly basis - then we must have some sort of regulation somewhere

[E_L]

@gentogen, i used the actual Genmab guidance for a similar excercise, all at fx 6

[E_L]

2021 guidance $5.200.000.000 = dkk5.325.000.000 compared to dkk 4.900.000.000 guided , gives a difference of dkk
425.000.000

[E_L]

and similar for the high guidance $5.600.000.000 5.805.000.000 dkk 5.300.000.000 diff
505.000.000

[E_L]

now this is on total sales, so we would need to make an assumption what part is Faspro to calculate the missing %

[JørgenVarnæs]

The thing is - GEN does not give us the royalty in USD

[E_L]

well, they gave us the fx rate they use, so we can calculate

[JørgenVarnæs]

Where did you find that?

[E_L]

with the fx at 6, royalties fitting to USD 5.2bn, should be DKK5.325bn