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Results for the Year (Tables) | 12 Months Ended
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Dec. 31, 2022
Results for the Year |
Schedule of revenue by type and collaboration partner under agreements | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(DKK million) | ​ | ​ | 2022 | ​ | 2021 | ​ | 2020
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Revenue by type: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Royalties | ​ | ​ | 11,672 | ​ | 6,977 | ​ | 4,741
Reimbursement revenue | ​ | ​ | 818 | ​ | 531 | ​ | 431
Milestone revenue | ​ | ​ | 1,767 | ​ | 954 | ​ | 351
License revenue | ​ | ​ | 6 | ​ | - | ​ | 4,588
Collaboration revenue | ​ | ​ | 332 | ​ | 20 | ​ | -
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total | ​ | ​ | 14,595 | ​ | 8,482 | ​ | 10,111
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Revenue by collaboration partner: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Janssen | ​ | ​ | 10,620 | ​ | 6,847 | ​ | 4,693
AbbVie | ​ | ​ | 1,174 | ​ | 245 | ​ | 4,398
Roche | ​ | ​ | 796 | ​ | 603 | ​ | 305
Novartis | ​ | ​ | 815 | ​ | 236 | ​ | 212
BioNTech | ​ | ​ | 708 | ​ | 416 | ​ | 230
Seagen | ​ | ​ | 413 | ​ | 135 | ​ | 201
Other | ​ | ​ | 69 | ​ | - | ​ | 72
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total | ​ | ​ | 14,595 | ​ | 8,482 | ​ | 10,111
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Royalties by product: | ​ | ​ | ​ | ​ | ​ | ​ | ​
DARZALEX | ​ | ​ | 10,056 | ​ | 6,135 | ​ | 4,419
TEPEZZA | ​ | ​ | 796 | ​ | 593 | ​ | 298
Kesimpta | ​ | ​ | 779 | ​ | 235 | ​ | 10
Other | ​ | ​ | 41 | ​ | 14 | ​ | 14
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total | ​ | ​ | 11,672 | ​ | 6,977 | ​ | 4,741
​
Schedule of segment disclosures in the financial statements as the group's business activities. | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Revenue | ​ | Non-current assets | ​ | Revenue | ​ | Non-current assets | ​ | Revenue | ​ | Non-current assets
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(DKK million) | ​ | 2022 | ​ | 2021 | ​ | 2020
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Denmark | ​ | 14,595 | ​ | 211 | ​ | 8,482 | ​ | 269 | ​ | 10,111 | ​ | 344
Netherlands | ​ | - | ​ | 793 | ​ | - | ​ | 422 | ​ | - | ​ | 380
United States | ​ | - | ​ | 442 | ​ | - | ​ | 470 | ​ | - | ​ | 370
Japan | ​ | - | ​ | 70 | ​ | - | ​ | 95 | ​ | - | ​ | -
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total | ​ | 14,595 | ​ | 1,516 | ​ | 8,482 | ​ | 1,256 | ​ | 10,111 | ​ | 1,094
​
Schedule of staff cost | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2022 | ​ | 2021 | ​ | 2020
(DKK million) | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
Wages and salaries | ​ | 1,913 | ​ | 1,174 | ​ | 694
Share-based compensation | ​ | 439 | ​ | 310 | ​ | 200
Defined contribution plans | ​ | 112 | ​ | 80 | ​ | 51
Other social security costs | ​ | 263 | ​ | 155 | ​ | 108
Government grants | ​ | (144) | ​ | (122) | ​ | (119)
​ | ​ | ​ | ​ | ​ | ​ | ​
Total | ​ | 2,583 | ​ | 1,597 | ​ | 934
​ | ​ | ​ | ​ | ​ | ​ | ​
Staff costs are included in the income statement as follows: | ​ | ​ | ​ | ​ | ​ | ​
Research and development expenses | ​ | 1,662 | ​ | 1,190 | ​ | 803
Selling, general and administrative expenses | ​ | 1,065 | ​ | 529 | ​ | 250
Government grants related to research and development expenses | ​ | (144) | ​ | (122) | ​ | (119)
​ | ​ | ​ | ​ | ​ | ​ | ​
Total | ​ | 2,583 | ​ | 1,597 | ​ | 934
​ | ​ | ​ | ​ | ​ | ​ | ​
Average number of FTE | ​ | 1,460 | ​ | 1,022 | ​ | 656
Number of FTE at year-end | ​ | 1,660 | ​ | 1,212 | ​ | 781
​
Schedule of corporate and deferred Tax | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2022 | ​ | 2021 | ​ | 2020
(DKK million) | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
Current tax on profit | ​ | 1,498 | ​ | 968 | ​ | 1,191
Adjustment to deferred tax | ​ | 107 | ​ | (371) | ​ | (112)
Adjustment to unrecognized deferred tax assets | ​ | (92) | ​ | 378 | ​ | 67
​ | ​ | ​ | ​ | ​ | ​ | ​
Total tax for the period in the income statement | ​ | 1,513 | ​ | 975 | ​ | 1,146
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2022 | ​ | 2021 | ​ | 2020
(DKK million) | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
Net profit before tax | ​ | 7,035 | ​ | 3,983 | ​ | 5,904
​ | ​ | ​ | ​ | ​ | ​ | ​
Tax at the Danish corporation tax rate of 22% for all periods | ​ | 1,548 | ​ | 876 | ​ | 1,299
​ | ​ | ​ | ​ | ​ | ​ | ​
Tax effect of: | ​ | ​ | ​ | ​ | ​ | ​
Adjustment to unrecognized deferred tax assets | ​ | (92) | ​ | 137 | ​ | 67
Recognition of previously unrecognized tax losses and deductible temporary differences | ​ | (12) | ​ | 119 | ​ | (222)
Non-deductible expenses/non-taxable income and other permanent differences, net | ​ | 73 | ​ | (147) | ​ | (5)
All other | ​ | (4) | ​ | (10) | ​ | 7
​ | ​ | ​ | ​ | ​ | ​ | ​
Total tax effect | ​ | (35) | ​ | 99 | ​ | (153)
​ | ​ | ​ | ​ | ​ | ​ | ​
Total tax for the period in the income statement | ​ | 1,513 | ​ | 975 | ​ | 1,146
​ | ​ | ​ | ​ | ​ | ​ | ​
Total tax for the period in shareholders' equity | ​ | (22) | ​ | (31) | ​ | (44)
​ | ​ | ​ | ​ | ​ | ​ | ​
Effective Tax Rate | ​ | 21.5% | ​ | 24.5% | ​ | 19.4%
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
Schedule of components of the deferred tax asset | ​
​ | ​ | ​ | ​ | ​
​ | ​ | 2022 | ​ | 2021
(DKK million) | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​
Share-based instruments | ​ | 128 | ​ | 136
Deferred revenue | ​ | 113 | ​ | 113
Other temporary differences | ​ | 11 | ​ | 15
​ | ​ | ​ | ​ | ​
Total Deferred Taxes | ​ | 252 | ​ | 264
​ | ​ | ​ | ​ | ​
Schedule of Result Per Share | ​
​ | ​ | ​ | ​ | ​ | ​
(DKK million) | 2022 | ​ | 2021 | ​ | 2020
​ | ​ | ​ | ​ | ​ | ​
Net profit | 5,522 | ​ | 3,008 | ​ | 4,758
​ | ​ | ​ | ​ | ​ | ​
(Shares) | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​
Average number of shares outstanding | 65,783,130 | ​ | 65,634,300 | ​ | 65,315,975
Average number of treasury shares | (395,829) | ​ | (238,663) | ​ | (136,969)
​ | ​ | ​ | ​ | ​ | ​
Average number of shares excl. treasury shares | 65,387,301 | ​ | 65,395,637 | ​ | 65,179,006
Average number of share-based instruments, dilution | 622,303 | ​ | 650,114 | ​ | 706,869
​ | ​ | ​ | ​ | ​ | ​
Average number of shares, diluted | 66,009,604 | ​ | 66,045,751 | ​ | 65,885,875
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​
Basic net profit per share | 84.45 | ​ | 46.00 | ​ | 73.00
Diluted net profit per share | 83.65 | ​ | 45.54 | ​ | 72.21
​

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