Genmab — Februar 2021

[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

[JørgenVarnæs]

Ok - gotcha. I’ve been looking at the quarterly nos. Your approach makes more sense

[E_L]

from
transcript: The 2020 average rate for the dollar-kroner was around DKK6.5 and for 2021 we're assuming a flat DKK6

[E_L]

so we know they assume missing royalties of between 425m and 505m for that particular guidance

[E_L]

dkk

[JørgenVarnæs]

A reduction of nearly 10% - translating into 2-2,5%points deducted from the 20%

[JørgenVarnæs]

It all adds up. That is a truly nasty piece of work from JJ

[E_L]

i am not sure i follow you there (it is a bit less than 10%) of TOTAL sales though, but we should only pay on Faspro sales

[lexus]

Er det nu man skal købe en bid af genmap

[E_L]

sorry lexus, you are on the wrong page, this is the genmaB page

[lexus]

ok prøver igen er nu man skal købe en bid af GENMAB

[Bulder]

Er konklusionen så, at det koster ca ½ mia i reduceret royalty?

[Mcjean]

Hvis du vil køre Trabant istedet for lexus, ja så det nu:-D

[StockBull]

ca. 450 mil kr indikerede Jan tidligere

[StockBull]

overfor city banks analytiker

[lexus]

ok tak jeg laver et lille køb så ser hvordan det går.

[StockBull]

så de er nok allerede barberet af idags kurs og d.v.s ren upside såfremt Genmab vinder

[Mcjean]

De 450 mill er vel det samme som de taber fordi deres økonomiafdeling ikke magter at placere overskydende kapital, så det går lige op hvis de finder en medarbejder der er bare en anelse økonomisk "smart".