Assets
| Type | Time | Amount | Unit |
|---|---|---|---|
| ifrs-full:Assets | 2021-12-31 | 2067629000 | dkk |
| ifrs-full:Assets | 2020-12-31 | 1761949000 | dkk |
Revenue
| Type | Start date | End date | Amount | Unit |
|---|---|---|---|---|
| ifrs-full:Revenue | 2021-01-01 | 2021-12-31 | 292567000 | dkk |
| ifrs-full:Revenue | 2020-01-01 | 2020-12-31 | 353314000 | dkk |
| ifrs-full:Revenue | 2019-01-01 | 2019-12-31 | 41333000 | dkk |
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<mrv:CorporateGovernanceReport contextRef="ctx-1" id="pp-value-1" xml:lang="en">Our approach to corporategovernance is founded on ethicsand integrity and forms the basisof our efforts to ensure strongconfidence from our shareholders,partners, employees, and otherstakeholders.As a company incorporated under the laws of Denmark, and with our shares admitted to trading and official listing on Nasdaq Copenhagen, as well as having American Depositary Shares representing Zealand shares trading on Nasdaq Global Select Market in New York, we are subject to various applicable legislations, standards and other regulations for publicly traded companies. These include Danish and US securities law and the recommendations on corporate governance issued by the Danish Committeeon Corporate Governance (in the below ââthe Recommen-dationsââ).Management structureZealand has a two-tier management structure com- posed of the Board of Directors (âthe Boardâ) and the Corporate Management. The Board is responsible for the overall visions, strategies and objectives, the financial and managerial supervision of Zealand as well as for regular evaluation of the work of the Corporate Management. In addition, the Board provides general oversight of our activities and ensures that it is managed in a manner and in accordance with applicable law and our Articles of Association.The Board approves the policies and procedures, and Corporate Management is responsible for the day-to-day management of Zealand in compliance with the guidelinesand directions set by the Board of Directors. The alloca-tion of responsibilities between the Board and the Corpo-rate Management is stipulated in the Rules of Procedure.Board of DirectorsThe Board of Directors plays an active role in setting our strategies and goals and in monitoring the operations and results. The Board of Directors functions according to its rules of procedure. Board duties include establishing our strategy, policies and activities to achieve our objectives inaccordance with the Articles of Association.In line with the Recommendations, the Board of Directors annually reviews and determines the qualifications and experience needed on the Board. The chairman super-vises the Board of Director's annual self-evaluation of its performance.The Board of Directors met 10 times in 2021.Board CommitteesThe Board has established four committees to support theBoard in its duties: Audit Committee, Remuneration and Compensation Committee, Scientific Committee, and a Nomination Committee.Audit CommitteeThe Audit Committee assists the Board of Directors with oversight of financial reporting, internal control and risk management systems, external auditing of the annual report, and control of the auditorâs independence, includ-ing oversight of non-audit services and other activities delegated by the Board of Directors.In 2021, specific topics discussed included auditorâs reports, accounting policies, internal controls, including SOX (Sarbanes-Oxley Act) compliance, finance, risk man-agement, insurance policy, year-end issues and external financing.The Audit Committee met 8 times in 2021.Remuneration CommitteeThe Remuneration Committee proposes the remunera-tion policy and general guidelines for incentive pay for the Board of Directors and the CEO of Zealand as well as tar-gets for company-operated performance-related incen-tive programs. These policies and guidelines set out the various components of the remuneration, including fixed and variable remuneration such as pension schemes, ben-efits, retention bonuses, severance and incentive schemes as well as the related bonus and evaluation criteria.In 2021, specific topics discussed included long-term in-centive programs for management and Board of Directors,US based employees, company goals, compensation poli-cy for eligible employees, CEO and Board compensation. The Remuneration Committee met 5 times in 2021.Nomination committeeThe Nomination Committee makes recommendations for decisions to the Board of Directors regarding board and CEO positions and identifies and recommend candidates for the Board of Directors.Specific topics discussed in 2021 included the composi-tion of the independent members of the Board of Direc-tors.The Nomination Committee met after each board meetingin 2021.Scientific committeeThe Scientific Committee is a forum with the purpose of leveraging the scientific expertise of the appointed Board of Directors, understanding and challenging the approach and assumptions of the Companyâs Research & Develop-ment strategy, provide technical assistance to the Board on Research & Development related issues and in both instances to provide guidance to the Board on the risks of the Companyâs Research & Development strategy.Specific topics discussed in 2021 included discussions on the development of the pre-clinical pipeline and the rationale for the development of products in that pipeline.The Scientific Committee met under its new governance structure 3 times in 2021.Compliance with the Corporate Governance RecommendationsZealand complies with the Recommendations on Corporate Governance issued by the Danish Committee on Corporate Governance, December 2, 2020, with two exceptions:⢠Interaction with the companyâs shareholders, in-vestors and other stakeholder (Recommendation, section 1.1.2): The company does not have a for-mal written policy on shareholder engagement. Members of Executive Management believe that investor management is best advanced by direct interaction with investors as appropriate.⢠Interaction with the companyâs shareholders, investors and other stakeholder (Recommen-dation, section 1.4.2): The company does not have a public tax policy. The company is still in its growth phase and transition to a commercial company and its revenue is growing but still modest. Zealand pays all its applicable corporatetaxes in Denmark.</mrv:CorporateGovernanceReport>
<mrv:StatementOfTheDiversityPolicies contextRef="ctx-1" id="pp-value-9" xml:lang="en">Diversity provides better understanding of the communi-ties in which we operate, so that we can create value for patients and our stakeholders. We aim to achieve equal representation of both genders at all management levels,from the Board of Directors to the heads of departments.We are committed to providing equal employment op-portunities for all employees, by recruiting, hiring, training, promoting, and making other personnel decisions, withoutregard to race, colour, gender identity/expression, religion, age, sexual orientation, national origin, disability, military or veteran status or any other protected basis.</mrv:StatementOfTheDiversityPolicies>
<mrv:LinkToStatementOfCorporateSocialResponsibility contextRef="ctx-1" xml:lang="en">zealandpharma.com/csr</mrv:LinkToStatementOfCorporateSocialResponsibility>
<mrv:StatementOfTargetFiguresAndPoliciesForTheUnderrepresentedGender contextRef="ctx-1" id="pp-value-12" xml:lang="en">Zealand has an even distribution of female and male managers, and slightly more women than men across the organization in general. Overall Zealand is made up of 58%females in 2021 (2020: 58%).As of December 31, 2021, the Board of Directors consist-ed of four women and seven men, giving a female rep-resentation of 36% (2020: 36%).</mrv:StatementOfTargetFiguresAndPoliciesForTheUnderrepresentedGender>
<mrv:StatementOfPolicyForDataEthics contextRef="ctx-1" id="pp-value-10" xml:lang="en">This statement forms part of the management commen-tary of the annual report of Zealand Pharma for the last financial year. The new Danish regulation - Section 99d of the Danish Financial Statements Act - requires larger com-panies, which have a policy for data ethics, to supplement the management commentary of the annual report with a report on data ethics. As an innovative fast-moving fully integrated biotech company the importance of responsi-ble data sharing and data ethics is appreciated within the organization. Zealand Pharma is committed to apply data ethics that are consistent with the appropriate privacy reg-ulations and consistent with accepted industry practice. Zealand Pharma currently has policies on Data Integrity and Good Documentation that apply to the integrity and quality of data for its clinical trials and a Data Governance Manual that governs the way that certain categorires are handled and used. It is undertaking an assessment of whetether it needs to adapt these to align with this new statutory requirement.</mrv:StatementOfPolicyForDataEthics>
<gsd:DateOfGeneralMeeting contextRef="ctx-1" xml:lang="en">2022-04-06</gsd:DateOfGeneralMeeting>
<fsa:AverageNumberOfEmployees contextRef="ctx-1" decimals="0" unitRef="pure">346</fsa:AverageNumberOfEmployees>
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<sob:StatementByExecutiveAndSupervisoryBoards contextRef="ctx-1" id="pp-value-50" xml:lang="en">The Board of Directors and Executive Management have today discussed and approved the Annual Report of Zealand Pharma A/S for the financial year January 1 â December 31, 2021.The consolidated financial statements and parent company financial statements have been prepared in accordance with International FinancialReporting Standards as adopted by the EU and additional requirements under the Danish Financial Statements Act.We consider the accounting policies used to be appropriate. In our opin-ion, the financial statements give a true and fair view of the Groupâs and the parent companyâs financial position as of December 31, 2021, and of the results of the Groupâs and the parent companyâs operations and cash flows for the financial year January 1 â December 31, 2021.In our opinion, the Managementâs review includes a fair review of the development of the Groupâs and the parent companyâs operations and economic conditions, the results for the year, and the Groupâs and the parent companyâs financial position, as well as a review of theprincipal risks and uncertainties to which the Group and the parent company are exposed.In our opinion, the Annual Report of Zealand Pharma A/S for the fi-nancial year January 1 - December 31, 2021 identified as 549300ITB-B1ULBL4CZ12-2021-12-31-en.zip has in all material respects been prepared in compliance with the ESEF Regulation. We recommend that the Annual Report be approved at the Annual General Meeting.</sob:StatementByExecutiveAndSupervisoryBoards>
<cmn:NameAndSurnameOfMemberOfExecutiveBoard contextRef="ctx-46" xml:lang="en">Emmanuel Dulac</cmn:NameAndSurnameOfMemberOfExecutiveBoard>
<cmn:TitleOfMemberOfExecutiveBoard contextRef="ctx-46" id="pp-value-23" xml:lang="en">President and Chief Executive Officer</cmn:TitleOfMemberOfExecutiveBoard>
<cmn:NameAndSurnameOfMemberOfExecutiveBoard contextRef="ctx-47" xml:lang="en">Matthew Douglas Dallas</cmn:NameAndSurnameOfMemberOfExecutiveBoard>
<cmn:TitleOfMemberOfExecutiveBoard contextRef="ctx-47" id="pp-value-25" xml:lang="en">Senior Vice President andChief Financial Officer</cmn:TitleOfMemberOfExecutiveBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-49" xml:lang="en">Alf Gunnar Martin Nicklasson</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx-49" xml:lang="en">Chairman</cmn:TitleOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-50" xml:lang="en">Kirsten Aarup Drejer</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx-50" xml:lang="en">Vice Chairman</cmn:TitleOfMemberOfSupervisoryBoard>
<sob:PlaceOfSignatureOfStatement contextRef="ctx-1" xml:lang="en">Søborg</sob:PlaceOfSignatureOfStatement>
<sob:DateOfApprovalOfAnnualReport contextRef="ctx-1" id="pp-value-21" xml:lang="en">2022-03-10</sob:DateOfApprovalOfAnnualReport>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-53" xml:lang="en">Bernadette Connaughton</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx-53" xml:lang="en">Board member</cmn:TitleOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-54" xml:lang="en">Leonard Kruimer</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx-54" xml:lang="en">Board member</cmn:TitleOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-55" xml:lang="en">Alain Munoz</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx-55" xml:lang="en">Board member</cmn:TitleOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-59" xml:lang="en">Jens Peter Stenvang</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx-59" id="pp-value-49" xml:lang="en">Board memberEmployee elected</cmn:TitleOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-58" xml:lang="en">Iben Louise Gjelstrup</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx-58" id="pp-value-47" xml:lang="en">Board memberEmployee elected</cmn:TitleOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-51" xml:lang="en">Jeffrey Berkowitz</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx-51" xml:lang="en">Board member</cmn:TitleOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfExecutiveBoard contextRef="ctx-48" xml:lang="en">Adam Sinding Steensberg</cmn:NameAndSurnameOfMemberOfExecutiveBoard>
<cmn:TitleOfMemberOfExecutiveBoard contextRef="ctx-48" id="pp-value-27" xml:lang="en">Executive Vice President, Research & Development, andChief Medical Officer</cmn:TitleOfMemberOfExecutiveBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-57" xml:lang="en">Michael John Owen</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx-57" xml:lang="en">Board member</cmn:TitleOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-52" xml:lang="en">Frederik Barfoed Beck</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx-52" id="pp-value-35" xml:lang="en">Board memberEmployee elected</cmn:TitleOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-56" xml:lang="en">Anneline Nansen</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx-56" id="pp-value-43" xml:lang="en">Board memberEmployee elected</cmn:TitleOfMemberOfSupervisoryBoard>
<arr:AddresseeOfAuditorsReportOnAuditedFinancialStatements contextRef="ctx-1" xml:lang="en">To the shareholders of Zealand Pharma A/S</arr:AddresseeOfAuditorsReportOnAuditedFinancialStatements>
<arr:OpinionOnAuditedFinancialStatements contextRef="ctx-1" id="pp-value-53" xml:lang="en">We have audited the consolidated financial statements and the parent company financial statements of Zealand Pharma A/S for the financial year January 1 â December 31, 2021, which comprise income statement, statement of comprehensive income, statement of financial position, cash flow statement, statement of changes in equity and notes, including accounting policies, for the Group and the Parent Company. The consolidated financial statements and the parent company financial statements are prepared in accordance with International Financial Reporting Stand-ards as issued by the International Accounting Standards Board (IASB) and as adopted by the EU and additional requirements of the Danish Financial Statements Act. In our opinion, the consolidated financial statements and the parent company financial statements give a true and fair view of the financial position of the Group and the Parent Company at December 31, 2021 and of the results of the Group's and the Parent Company's operations and cash flows for the financial year January 1 â December 31, 2021 in accordance with International Financial Reporting Standards as issued by the International Accounting Stand-ards Board (IASB) and as adopted by the EU and additional requirements of the Danish Financial Statements Act.Our opinion is consistent with our long-form audit report to the Audit Committee and the Board of Directors.</arr:OpinionOnAuditedFinancialStatements>
<arr:DescriptionOfQualificationsOfAuditedFinancialStatements contextRef="ctx-1" id="pp-value-55" xml:lang="en">We conducted our audit in accordance with International Standards on Auditing (ISAs) and additional requirements applicable in Denmark. Our responsibilities under those standards and requirements are further described in the "Auditor's responsibilities for the audit of the consolidat-ed financial statements and the parent company financial statements" (hereinafter collectively referred to as "the financial statements") section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.IndependenceWe are independent of the Group in accordance with the International Ethics Standards Board for Accountants' Inter-national Code of Ethics for Professional Accountants (IESBA Code) and the additional ethical requirements applicable in Denmark, and we have fulfilled our other ethical respon-sibilities in accordance with these requirements and the IESBA Code. To the best of our knowledge, we have not provided any prohibited non-audit services as described in article 5(1) of Regulation (EU) no. 537/2014.</arr:DescriptionOfQualificationsOfAuditedFinancialStatements>
<arr:MaterialUncertaintyConcerningGoingConcernAudit contextRef="ctx-1" id="pp-value-56" xml:lang="en">The financial statements have been prepared assuming that the Company will continue as a going concern. As dis-cussed in Note 2 to the financial statements, the Company, with its current strategic plans, has identified a working capital deficit by September 2022 and substantial doubt exists about the Companyâs ability to continue as a going concern. Management's evaluation of the events and con-ditions and managementâs plans regarding these matters are also described in Note 2. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. We have not modified our opinion in respect of this matter.Appointment of auditorWe were initially appointed as auditor of Zealand Pharma A/S on April 2, 2020 for the financial year 2020. We have been reappointed by resolution of the general meeting on April 15, 2021 for the financial year 2021.</arr:MaterialUncertaintyConcerningGoingConcernAudit>
<arr:KeyAuditMattersAudit contextRef="ctx-1" id="pp-value-58" xml:lang="en">A key audit matter is a matter that, in our professional judgement, was of most significance in our audit of the financial statements for the financial year 2021. The matter was addressed during our audit of the financial statements as a whole and in forming our opinion thereon. We do not provide a separate opinion on the matter. For the matter below, our description of how our audit addressed the matter is provided in that context.We have fulfilled our responsibilities described in the "Auditor's responsibilities for the audit of the financial statements" section, including in relation to the key audit matter below. Accordingly, our audit included the design and performance of procedures to respond to our assess-ment of the risks of material misstatement of the financial statements. The results of our audit procedures, including the procedures performed to address the matter below, provide the basis for our audit opinion on the financial statements.Accounting for rebates and discounts related to the Companyâs sales in the United StatesAs disclosed in Note 3 to the consolidated financial state-ments, revenue from products sold by the Company in the United States (U.S.) is impacted by estimates related to managed care rebates, medicare part D rebates, and co-pay card redemption.The estimates for managed care rebates, medicare part D rebates, and co-pay card redemption and related liabilities are recognised as a reduction to gross product sales in the period in which the underlying sales are recognised. As of December 31, 2021, the liabilities for sales discounts and rebates amounts to DKK 27.8 million, as disclosed in Note 27 in the consolidated financial statements. Auditing managed care rebates and medicare part D re-bates, and co-pay card redemptions and related liabilities is complex due to the judgmental nature of managementâs estimates, which involves multiple assumptions, as not all conditions are known at the time of sale. For both man-aged care rebates and the medicare part D rebates, the key assumptions relate to the rebate percentages by each pharmacy as determined in each pharmacy's contract withthe Company and forecasted number of prescriptions that will be filled by each pharmacy (referred to as payor mix). For co-pay card redemptions, the key assumptions relate to expected settlement rates for sales units remaining in the channel that have yet to be presented under co-pay terms. These assumptions are made based on historical actuals, which are used to estimate forecasted trends, including payor mix and settlement rates, which are used to estimate the expected settlement of managed care rebates and medicare part D rebates, and co-pay card redemption, and the specific terms in the individual agreements.How our audit addressed the key audit matterWe obtained an understanding, evaluated the design, and tested the operating effectiveness of controls over the Company's process to develop the estimates around managed care rebates, medicare part D rebates, and co-pay card redemption. For example, we tested controls over managementâs review of key assumptions, including payor mix for managed care rebates and medicare part D rebates, and settlement rates for sales units remaining in channel for co-pay card redemptions. Our procedures included, among others, checking cler-ical accuracy of managementâs calculation of liabilities for managed care rebates, medicare part D rebates, and co-pay card redemptions. We assessed the assumptions applied by management, and compared them to appli-cable commercial policies, historical experience, and the terms in the rebate agreements with the pharmacy benefit managers and agreements with co-pay program partners. We further examined subsequent settlement obligations to assess completeness and accuracy of the recorded liabil-ities. We performed an independent assessment on the key assumptions of the liabilities as of December 31, 2021, including the payor mix and expected settlement rates by developing our own point estimates through the use of his-torical trends to predict current year liabilities and compar-ing these to the actual liabilities recognised. In addition, we have assessed the adequacy of the Companyâs disclosures on rebates and discounts related to the matter described above.</arr:KeyAuditMattersAudit>
<arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements contextRef="ctx-1" id="pp-value-63" xml:lang="en">Management is responsible for the Management's review.Our opinion on the financial statements does not cover the Management's review, and we do not express any form of assurance conclusion thereon.In connection with our audit of the financial statements, our responsibility is to read the Management's review and, in doing so, consider whether the Management's review is materially inconsistent with the financial statements or our knowledge obtained during the audit, or otherwise appears to be materially misstated. Moreover, it is our responsibility to consider whether the Management's review provides the information required under the Danish Financial Statements Act. Based on the work we have performed, we conclude that the Management's review is in accordance with the finan-cial statements and has been prepared in accordance with the requirements of the Danish Financial Statements Act. We did not identify any material misstatement of the Man-agement's review. </arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements>
<arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements contextRef="ctx-1" id="pp-value-65" xml:lang="en">Management is responsible for the preparation of consol-idated financial statements and parent company financial statements that give a true and fair view in accordance with International Financial Reporting Standards as adopted by the EU and additional requirements of the Danish Financial Statements Act and for such internal control as Manage-ment determines is necessary to enable the preparation of financial statements that are free from material misstate-ment, whether due to fraud or error.In preparing the financial statements, Management is re-sponsible for assessing the Group's and the Parent Com-pany's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting in preparing the financial statements unless Management either intends to liquidate the Group or the Parent Company or to cease operations, or has no realistic alternative but to do so.</arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements>
<arr:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed contextRef="ctx-1" id="pp-value-66" xml:lang="en">Our objectives are to obtain reasonable assurance as to whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs and additional requirements applicable in Den-mark will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the financial state-ments.As part of an audit conducted in accordance with ISAs and additional requirements applicable in Denmark, we exercise professional judgement and maintain professional scepti-cism throughout the audit. We also:⢠Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or er-ror, design and perform audit procedures responsive to those risks and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal control.⢠Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are ap-propriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Group's and the Parent Company's internal control.⢠Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by Management.⢠Conclude on the appropriateness of Management's use of the going concern basis of accounting in preparing the financial statements and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Group's and the Parent Company's ability to con-tinue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the fi-nancial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Group and the Parent Company to cease to continue as a going concern.⢠Evaluate the overall presentation, structure and contents of the financial statements, including the note disclo-sures, and whether the financial statements represent the underlying transactions and events in a manner that gives a true and fair view.⢠Obtain sufficient appropriate audit evidence regard-ing the financial information of the entities or business activities within the Group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion.We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we iden-tify during our audit.We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to commu-nicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, actions taken to eliminate threats or safeguards applied.From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the consolidated financial statements and the parent company financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditor's report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.</arr:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed>
<arr:AuditorsReportOnXbrlTagging contextRef="ctx-1" id="pp-value-70" xml:lang="en">As part of our audit of the financial statements of Zealand Pharma A/S we performed procedures to express an opin-ion on whether the annual report for the financial year Jan-uary 1 â December 31, 2021 with the file name 549300ITB-B1ULBL4CZ12-2021-12-31-en.zip is prepared, in all material respects, in compliance with the Commission Delegated Regulation (EU) 2019/815 on the European Single Electron-ic Format (ESEF Regulation) which includes requirements related to the preparation of the annual report in XHTML format and iXBRL tagging of the Consolidated Financial Statements. Management is responsible for preparing an annual report that complies with the ESEF Regulation. This responsibility includes: ⢠The preparing of the annual report in XHTML format; ⢠The selection and application of appropriate iXBRL tags, including extensions to the ESEF taxonomy and the an-choring thereof to elements in the taxonomy, for finan-cial information required to be tagged using judgement where necessary; ⢠Ensuring consistency between iXBRL tagged data and the Consolidated Financial Statements presented in human readable format; and ⢠For such internal control as Management determines necessary to enable the preparation of an annual report that is compliant with the ESEF Regulation. Our responsibility is to obtain reasonable assurance on whether the annual report is prepared, in all material respects, in compliance with the ESEF Regulation based on the evidence we have obtained, and to issue a report that includes our opinion. The nature, timing and extent of procedures selected depend on the auditorâs judgement, including the assessment of the risks of material depar-tures from the requirements set out in the ESEF Regulation, whether due to fraud or error. The procedures include: ⢠Testing whether the annual report is prepared in XHTML format; ⢠Obtaining an understanding of the companyâs iXBRL tagging process and of internal control over the tagging process; ⢠Evaluating the completeness of the iXBRL tagging of the Consolidated Financial Statements; ⢠Evaluating the appropriateness of the companyâs use of iXBRL elements selected from the ESEF taxonomy and the creation of extension elements where no suitable element in the ESEF taxonomy has been identified; ⢠Evaluating the use of anchoring of extension elements to elements in the ESEF taxonomy; and ⢠Reconciling the iXBRL tagged data with the audited Consolidated Financial Statements.In our opinion, the annual report for the financial year Jan-uary 1 â December 31, 2021 with the file name 549300ITB-B1ULBL4CZ12-2021-12-31-en.zip is prepared, in all material respects, in compliance with the ESEF Regulation.</arr:AuditorsReportOnXbrlTagging>
<arr:SignatureOfAuditorsPlace contextRef="ctx-1" id="pp-value-78" xml:lang="en">Copenhagen</arr:SignatureOfAuditorsPlace>
<arr:SignatureOfAuditorsDate contextRef="ctx-1" id="pp-value-79" xml:lang="en">2022-03-10</arr:SignatureOfAuditorsDate>
<cmn:NameOfAuditFirm contextRef="ctx-60" id="pp-value-71" xml:lang="en">EY Godkendt Revisionspartnerselskab</cmn:NameOfAuditFirm>
<cmn:NameAndSurnameOfAuditor contextRef="ctx-60" id="pp-value-75" xml:lang="en">Christian Schwenn Johansen</cmn:NameAndSurnameOfAuditor>
<cmn:NameAndSurnameOfAuditor contextRef="ctx-61" xml:lang="en">Rasmus Bloch Jespersen</cmn:NameAndSurnameOfAuditor>
<cmn:DescriptionOfAuditor contextRef="ctx-60" id="pp-value-76" xml:lang="en">State Authorised Public Accountant</cmn:DescriptionOfAuditor>
<cmn:DescriptionOfAuditor contextRef="ctx-61" id="pp-value-73" xml:lang="en">State Authorised Public Accountant</cmn:DescriptionOfAuditor>
<cmn:IdentificationNumberOfAuditor contextRef="ctx-60" id="pp-value-77" xml:lang="en">mne33234</cmn:IdentificationNumberOfAuditor>
<cmn:IdentificationNumberOfAuditor contextRef="ctx-61" id="pp-value-74" xml:lang="en">mne35503</cmn:IdentificationNumberOfAuditor>
<gsd:NameOfReportingEntity contextRef="ctx-1" xml:lang="en">Zealand Pharma A/S</gsd:NameOfReportingEntity>
<gsd:AddressOfReportingEntityStreetName contextRef="ctx-1" xml:lang="en">Sydmarken</gsd:AddressOfReportingEntityStreetName>
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<gsd:AddressOfReportingEntityDistrictName contextRef="ctx-1" xml:lang="en">Søborg</gsd:AddressOfReportingEntityDistrictName>
<gsd:AddressOfReportingEntityCountry contextRef="ctx-1" xml:lang="en">Denmark</gsd:AddressOfReportingEntityCountry>
<gsd:IdentificationNumberCvrOfReportingEntity contextRef="ctx-1" id="pp-value-88" xml:lang="en">20045078</gsd:IdentificationNumberCvrOfReportingEntity>
<gsd:TelephoneNumberOfReportingEntity contextRef="ctx-1" xml:lang="en">+45 88 77 36 00</gsd:TelephoneNumberOfReportingEntity>
<gsd:FaxNumberOfReportingEntity contextRef="ctx-1" xml:lang="en">+45 88 77 38 98</gsd:FaxNumberOfReportingEntity>
<gsd:EmailOfReportingEntity contextRef="ctx-1" xml:lang="en">info@zealandpharma.com</gsd:EmailOfReportingEntity>
<gsd:HomepageOfReportingEntity contextRef="ctx-1" xml:lang="en">www.zealandpharma.com</gsd:HomepageOfReportingEntity>
<gsd:RegisteredOfficeOfReportingEntity contextRef="ctx-1" xml:lang="en">Gladsaxe</gsd:RegisteredOfficeOfReportingEntity>
<cmn:NameOfAuditFirm contextRef="ctx-61" xml:lang="en">EY Godkendt Revisionspartnerselskab</cmn:NameOfAuditFirm>
<cmn:IdentificationNumberCvrOfAuditFirm contextRef="ctx-60" id="pp-value-95" xml:lang="en">30700228</cmn:IdentificationNumberCvrOfAuditFirm>
<gsd:InformationOnTypeOfSubmittedReport contextRef="ctx-1" xml:lang="en">Annual report</gsd:InformationOnTypeOfSubmittedReport>
<cmn:TypeOfAuditorAssistance contextRef="ctx-1" xml:lang="en">Auditor's report on audited financial statements</cmn:TypeOfAuditorAssistance>
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<gsd:ReportingPeriodStartDate contextRef="ctx-1" xml:lang="en">2021-01-01</gsd:ReportingPeriodStartDate>
<gsd:ReportingPeriodEndDate contextRef="ctx-1" xml:lang="en">2021-12-31</gsd:ReportingPeriodEndDate>
<gsd:PrecedingReportingPeriodStartDate contextRef="ctx-1" xml:lang="en">2020-01-01</gsd:PrecedingReportingPeriodStartDate>
<gsd:PredingReportingPeriodEndDate contextRef="ctx-1" xml:lang="en">2020-12-31</gsd:PredingReportingPeriodEndDate>
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<gsd:NameOfSubmittingEnterprise contextRef="ctx-1" xml:lang="en">Zealand Pharma A/S</gsd:NameOfSubmittingEnterprise>
<gsd:AddressOfSubmittingEnterpriseStreetAndNumber contextRef="ctx-1" xml:lang="en">Sydmarken 11</gsd:AddressOfSubmittingEnterpriseStreetAndNumber>
<gsd:AddressOfSubmittingEnterprisePostcodeAndTown contextRef="ctx-1" xml:lang="en">2860 Søborg</gsd:AddressOfSubmittingEnterprisePostcodeAndTown>
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