Annual Report 2022

Annual Report 2022

14. Trade and Other Payables

 

 

At December 31,

(in thousands of $)

 

2022

 

2021

 

2020

Trade payables

 

188,721

 

208,850

 

206,325

Short term employee benefits

 

84,337

 

83,737

 

68,867

Gross-to-net-accruals

 

19,478

 

 

Other

 

3,142

 

828

 

Total trade and other payables

 

295,679

 

293,415

 

275,192

The carrying amounts of trade and other payables approximate their respective fair values.

Trade payables correspond primarily to clinical and manufacturing activities and include accrued expenses related to these activities.

Short-term employee benefits include payables and accruals for salaries and bonuses to be paid to the employees of the Company.

As of December 31, 2022, the movement in the gross-to-net-accruals was as follows:

(in thousands of $)

 

Rebates and chargebacks

 

Distribution fees,
product returns
and other

 

Total

Balance at January 01, 2022

 

 

 

Current estimate related to the sales made in the current year

 

35,426

 

10,740

 

46,166

(Credits or payments related to sales made during the year)

 

(20,028)

 

(6,661)

 

(26,689)

 

 

 

 

 

 

 

Balance at December 31, 2022

 

15,399

 

4,079

 

19,478