Half Year 2019 Zealand Pharma A/S Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Thomas Schultz Bowers - Danske Bank Markets Equity Research - Analyst : A lot of follow-up questions from me. Just to get a clear idea on how you think of commercialization in Europe. Did I understand correctly that you will not build any sales force or anything in Europe? And how should we see or -- are you not even going to file for approvals for glepa in Europe? Or will you -- so basically are you planning on doing in an inpatient program and then partner the program for rest of world and Europe? And I guess that also goes for the rescue pen. And then secondly, I mean what's your exact plans on when you enter the U.S. market? I mean for me, for rescue pen, it does reflect that you need quite a significant sales force. So how do you plan to attack and address the U.S. market? I mean you have just DKK 1 billion in cash, so I guess it is a quite large investment that you need to do for 2021. So are you still in negotiations for doing some out-licensing outside the U.S. that could bolster the balance sheet? Or how should we see that?

Question: Thomas Schultz Bowers - Danske Bank Markets Equity Research - Analyst : Okay. And just on what size sales force do you think you need for the U.S. market to cover that or maybe also going to take some higher cost maybe.