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Press Release

Novo Nordisk increased reported operating profit by 5% in the first nine months of 2017

Novo Nordisk A/S
Posted on: 01 Nov 17

Reported sales increased by 2% to DKK 83.7 billion (3% in local currencies)

Sales within diabetes and obesity care increased by 7% to DKK 69.7 billion (8% in local currencies).

  • Sales of Tresiba ® increased by 117% to DKK 5.4 billion (118% in local currencies).
  • Sales of Victoza ® increased by 15% to DKK 16.9 billion (15% in local currencies).
  • Sales of Saxenda ® increased by 80% to DKK 1.9 billion (77% in local currencies)

Sales within biopharmaceuticals declined by 18% to DKK 14.0 billion (18% in local currencies), primarily reflecting an impact from the introduction of a generic version of the hormone replacement therapy product Vagifem ® and from rebate adjustments for human growth hormone in Q1 2016, both in the USA, whereas sales within haemophilia were broadly unchanged.

Sales within International Operations increased by 3% in Danish kroner (5% in local currencies) driven by sales growth in all business regions. Sales within North America Operations were unchanged in both Danish kroner and local currencies, reflecting the non-recurring effects in biopharmaceuticals impacting growth negatively by 5 percentage points.

Operating profit increased by 5% reported in Danish kroner and by 6% in local currencies to DKK 38.9 billion. Net profit increased by 2% to DKK 29.9 billion. Diluted earnings per share increased by 5% to DKK 12.03.

In August, Novo Nordisk showed that the once-weekly GLP-1 semaglutide was superior to once-weekly dulaglutide on glucose control and weight loss in people with type 2 diabetes in the SUSTAIN 7 trial. In October, semaglutide received a positive 16-0 vote in favour of approval from an FDA Advisory Committee. 

In August, Novo Nordisk also obtained approval of the Victoza ® label expansion for cardiovascular risk reduction in the USA, and in September the label expansion for the reduced risk of severe hypoglycaemia with Tresiba ® was endorsed by CHMP in the EU. Also in September, Novo Nordisk obtained approval of the new fast-acting mealtime insulin Fiasp ® in the USA. 

The financial outlook for 2017 has been updated and the sales growth measured in local currencies is now expected to be in the range of 2% to 3% compared with the previous range of 1% to 3%. A negative currency impact of 2 percentage points is now expected. Operating profit growth measured in local currencies is now expected to be in the range of 3% to 6% compared with the previous range of 1% to 5%. A negative currency impact of 3 percentage points is now expected. 

The preliminary outlook for 2018 in local currencies indicates low to mid single-digit growth in both sales and operating profit. Sales growth reported in Danish kroner is expected to be 3 percentage points lower than in local currencies, and reported operating profit growth is expected to be 4 percentage points lower. 

Lars Fruergaard Jørgensen, president and CEO: "We continue to deliver on our plans for 2017, and we are very pleased with the recent clinical and regulatory progress for our key products. We are currently preparing the global launch of semaglutide, which provides a unique opportunity to improve the treatment of people with type 2 diabetes."

Contacts for further information

Media:   
Katrine Sperling+45 3079 6718 krsp@novonordisk.com
Ken Inchausti (US)+1 267 809 7552 kiau@novonordisk.com
    
Investors:   
Peter Hugreffe Ankersen+45 3075 9085 phak@novonordisk.com
Hanna Ögren+45 3079 8519 haoe@novonordisk.com
Anders Mikkelsen+45 3079 4461 armk@novonordisk.com
Christina Kjær+45 3079 3009 cnje@novonordisk.com
Kasper Veje (US)+1 609 235 8567 kpvj@novonordisk.com

Company announcement No 83 / 2017

PR171101_Q3_2017_UK


This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Novo Nordisk A/S via GlobeNewswire
HUG#2146267
GlobeNewswire
globenewswire.com

Last updated on: 02/11/2017

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