Novo Nordisk's operating profit increased by 14% in Danish kroner and by 8% at constant exchange rates (CER) in the first three months of 2019
- Sales increased by 9% in Danish kroner and by 4% at CER to DKK 29.3 billion. Operating profit growth of 8% at CER was positively impacted by a reversal of write-downs of oral semaglutide prelaunch inventory.
- Sales in International Operations increased by 13% in Danish kroner (13% at CER), driven by growth in all regions and positively impacted by timing of shipments. Sales in North America Operations increased by 4% in Danish kroner (decreased 4% at CER), negatively impacted by inventory reductions.
- Sales within Diabetes and obesity increased by 10% to DKK 24.8 billion (5% at CER), driven by Diabetes growing 4% at CER and Obesity growing 51% at CER. Sales within biopharmaceuticals increased by 3% to DKK 4.5 billion (unchanged at CER).
- Sales of Ozempic® were DKK 1,425 million and it has now been launched in 19 countries. In the USA, the new-to-brand prescription market share for Ozempic® has now exceeded 30% bringing Novo Nordisk's combined GLP-1 new-to-brand prescription market share to 50%.
- Oral semaglutide has been filed for regulatory approval of glycaemic control in both the USA and the EU. Furthermore, oral semaglutide and Ozempic® have been filed for regulatory approval for CV risk reduction in the USA.
- For the 2019 outlook, sales growth is still expected to be 2-5% at CER, and operating profit growth is still expected to be 2-6% at CER.
|PROFIT AND LOSS||Q1 2019|| Growth|
|Diluted earnings per share||4.36||(1||%)||N/A|
* CER: Constant exchange rates (average 2018)
Lars Fruergaard Jørgensen, president and CEO: "We delivered very solid performance in International Operations, driven by sales growth in all regions, meanwhile, sales in the USA were negatively impacted by inventory reductions. The global launch of Ozempic®, our new once-weekly GLP-1, is well on track and continues to gain market share. From a regulatory perspective, we achieved important milestones with the filing of oral semaglutide both in the USA and the EU. Based on the progress we made in the first quarter of 2019, we are on track to deliver on our outlook for the full-year."
On 3 May 2019 at 13.00 CEST, corresponding to 7.00 am EDT, a conference call will be held. Investors will be able to listen in via a link on novonordisk.com, which can be found under 'Investors'. Presentation material for the conference call will be available approximately one hour before on the same page.
|09 August 2019||Financial statement for the first six months of 2019|
|01 November 2019||Financial statement for the first nine months of 2019|
|05 February 2020||Financial statement for 2019|
Contacts for further information
|Mette Kruse Danielsen||+45 4442 email@example.com|
|Ken Inchausti (US)||+1 609 240 firstname.lastname@example.org|
|Peter Hugreffe Ankersen||+45 3075 email@example.com|
|Valdemar Borum Svarrer||+45 3079 firstname.lastname@example.org|
|Ann Søndermølle Rendbæk||+45 3075 email@example.com|
|Kristoffer Due Berg (US)||+1 609 235 firstname.lastname@example.org|
Company announcement No 30 / 2019
Upcoming Life Sciences Events
- October 2019
- Rennes: NutrEvent
- San Francisco: BIO Investor Forum
- Melbourne: Biotech-Pharma Product and Company Valuation - introduction