Financial guidance and business outlook for 2014

Financial guidance for 2014

In 2014, Zealand will receive revenue from milestone payments and royalties on Lyxumia® sales. Guidance on milestone payments amount to DKK 97 (EUR 13) million, including DKK 82 (EUR 11) million received from Sanofi in January 2014 and a time based milestone payment from Helsinn of DKK 15 (EUR 2) million to be received in 4th of 2014. 

The timing of other potential milestone based payments is largely outside Zealand’s control and therefore not included in our guidance at this point. Guidance on royalties cannot be provided, since Sanofi has given no guidance on expected Lyxumia® sales in 2014.

Net operating expenses for 2014 are expected at a range of DKK 200-210 (EUR 27-28) million.