Genmab — Februar 2021

[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

[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