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Results for the Year (Tables)

12 Months Ended

Dec. 31, 2022

Results for the Year

Schedule of revenue by type and collaboration partner under agreements

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​	​	​	​	​	​	​	​
(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

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Schedule of segment disclosures in the financial statements as the group's business activities.

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Revenue

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Non-current assets

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Revenue

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Non-current assets

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Revenue

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Non-current assets

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(DKK million)

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2022

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2021

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2020

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Denmark

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14,595

​

211

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8,482

​

269

​

10,111

​

344

Netherlands

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-

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793

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-

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422

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-

​

380

United States

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-

​

442

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-

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470

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-

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370

Japan

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-

​

70

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-

​

95

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-

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Total

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14,595

​

1,516

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8,482

​

1,256

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10,111

​

1,094

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Schedule of staff cost

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​	​	​	​	​	​	​
​	​	​	​	​	​	​
​	​	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

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Schedule of corporate and deferred Tax

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​	​	​	​	​	​	​
​	​	​	​	​	​	​
​	​	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%
​	​	​	​	​	​	​
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Schedule of components of the deferred tax asset

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​	​	​	​	​
​	​	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

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​	​	​	​	​	​
(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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