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Press Release

Novo Nordisk's operating profit decreased by 8% in Danish kroner and increased by 6% in local currencies in the first three months of 2018


Posted on: 02 May 18

Sales decreased by 5% in Danish kroner and increased by 5% in local currencies to DKK 26.9 billion.

  • Sales of Victoza® increased by 4% to DKK 6.0 billion (18% in local currencies).
  • Sales of Tresiba® increased by 18% to DKK 1.8 billion (33% in local currencies).
  • Sales of Saxenda® increased by 43% to DKK 0.8 billion (64% in local currencies).
  • Sales in North America Operations decreased by 11% (increased by 3% in local currencies).
  • Sales in International Operations were unchanged (increased by 8% in local currencies).


Sales within diabetes care and obesity decreased by 5% to DKK 22.6 billion (increased by 6% in local currencies). Sales within biopharmaceuticals decreased by 8% to DKK 4.3 billion (increased by 1% in local currencies). 

Operating profit decreased by 8% reported in Danish kroner and increased by 6% in local currencies to DKK 12.4 billion, reflecting the significant depreciation of the US dollar and related currencies versus the Danish krone. 

Net profit increased by 6% to DKK 10.8 billion. Diluted earnings per share increased by 8% to DKK 4.40. 

In February, Novo Nordisk announced that the European Commission had granted marketing authorisation for Ozempic® (subcutaneous semaglutide) for the treatment of adults with type 2 diabetes. In March, Novo Nordisk announced that the Japanese Ministry of Health, Labour and Welfare had approved Ozempic®. Furthermore, in February, Novo Nordisk launched Ozempic® in the USA following the approval in December 2017.

In February, Novo Nordisk successfully completed the first phase 3a trial, PIONEER 1, with oral semaglutide
for treatment of adults with type 2 diabetes. The trial achieved its primary objective by demonstrating statistically significant and superior improvements in blood glucose levels (HbA1c) for all three doses of oral semaglutide compared to placebo.

In March, Novo Nordisk announced that the US Food and Drug Administration had approved an update to the US prescribing information for Tresiba® (insulin degludec) based on the DEVOTE trial to include data on cardiovascular outcomes and severe hypoglycaemia in the label. 

For 2018, sales growth is now expected to be 3-5% measured in local currencies compared with the prior guidance of 2-5% and operating profit growth is now expected to be 2-5% compared with the prior guidance of 1-5%. Sales growth and operating profit growth reported in Danish kroner are now expected to be 6 and 9 percentage points lower than in local currencies, respectively.

Lars Fruergaard Jørgensen, president and CEO: "Based on the performance of our key products Victoza®, Tresiba® and Saxenda®, we delivered solid underlying growth in both sales and operating profit in the first three months of 2018. We reached important milestones with our once-weekly GLP-1 Ozempic®, as we launched in the USA and received approvals in both the EU and Japan. Moreover, we are encouraged by the first clinical results for oral semaglutide from the PIONEER 1 trial."

Contacts for further informaton

Media:  
Katrine Sperling   +45 3079 6718   krsp@novonordisk.com
Ken Inchausti (USA)   +1 267 809 7552   kiau@novonordisk.com
   
Investors:  
Peter Hugreffe Ankersen   +45 3075 9085   phak@novonordisk.com
Anders Mikkelsen   +45 3079 4461   armk@novonordisk.com
Christina Kjær   +45 3079 3009   cnje@novonordisk.com


Company announcement No 37 / 2018

Attachment

GlobeNewswire
globenewswire.com

Last updated on: 02/05/2018

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