Genmab — Februar 2021

[E_L]

-- TEPEZZA (teprotumumab-trbw) Fourth-Quarter 2020 Net Sales of $343.7 Million; Full-Year 2020 Net Sales of $820.0 Million, Significantly Exceeding Launch-Year Expectations; Driving One of the Best Rare Disease Medicine Launches in History --

[E_L]

https://ir.horizontherapeutics.com/news-releases/news-release-details/horizon-therapeutics-plc-reports-record-fourth-quarter-and-full

[E_L]

The Company expects TEPEZZA full-year 2021 net sales of greater than $1.275 billion

[JørgenVarnæs]

Nice number

[GeorgeBest]

Guggenheim sænker Genmabs målkurs til 2648 fra 2782

[Darvin]

Fortsat et pænt mål! Har smidt en opdateret liste med Kursmål i debatten, incl. Guggenheim En ting er at analytikerne har kigget på tallene, men det fremgår klart at de netop kun har tænkt efter. Genmab er en aktie man skal eje, men investering koster på den korte bane https://www.proinvestor.com/boards/89730#postdiv91346

[Solsen]

I assume no sales of Tepezza Q121.

[E_L]

So, $812m @ FX rate 6.12 = dkk 5.018m. Royalties were dkk298m as per annual report =5.94%. So we can assume 6% flat given some rounding and the fx rate used.

[E_L]

So for 2021 they project 1275m * 6.12 = dkk7803m sales, @ 6% royalty is dkk468m

[Solsen]

Yes thats true. And 460 mln dkk to Genmab. Only 140 mln left for Kesimpta.

[Solsen]

I used 6 dkk pr doller

[E_L]

even better, i should have too, that is what Genmab used for 2021

[Solsen]

Genmab will easily get 600 mln dkk from those two assets.

[E_L]

Yes , agree, Pagano is clearly low-balling this range of DKK400 million to DKK600 million relates to TEPEZZA and Kesimpta.

[kkjoel]

They call them "conservative accounting principles"

[Bulder]

Aren't they low-balling the most?

[kkjoel]

And nicely calculated btw. Have corrected the number in the Wiki article.

[E_L]

yes, i feel they are, and that is fine, i am conservative too, but it is best to calculate ourselves to make sure that it is indeed conservative

[E_L]

we'll get all parts of the puzzle Next we need to price rise for Dara for 2021, which I assume to be 4.9% (again). But maybe there was no price rise, we don't know... (I doubt that ofcourse )

[JørgenVarnæs]

Prescription nos would help...