Novo Nordisk's sales increased by 22% in Danish kroner and by 24% at constant exchange rates to DKK 65.3 billion in the first three months of 2024
May 02 2024 - 1:30AM
Novo Nordisk's sales increased by 22% in Danish kroner and by 24%
at constant exchange rates to DKK 65.3 billion in the first three
months of 2024
Bagsværd, Denmark, 2 May 2024 - financial report for the
period 1 January 2024 to 31 March 2024
- Operating profit increased by 27% in Danish kroner and by 30%
at constant exchange rates (CER) to DKK 31.8 billion.
- Sales in North America Operations
increased by 34% in Danish kroner (35% at CER). Sales growth in the
US was positively impacted by gross-to-net sales adjustments
related to prior years. Sales in International Operations increased
by 8% in Danish kroner (11% at CER).
- Sales within Diabetes and Obesity
care increased by 25% in Danish kroner to DKK 61.0 billion (27% at
CER), mainly driven by GLP-1 diabetes sales growth of 30% in Danish
kroner (32% at CER) and Obesity care growing by 41% in Danish
kroner to DKK 11.0 billion (42% at CER). Rare disease sales
decreased by 4% measured in Danish kroner (3% at CER).
- In the first quarter of 2024, Novo
Nordisk successfully completed the FLOW kidney outcomes trial with
semaglutide 1.0 mg. Further, Wegovy® was approved in the US for
cardiovascular risk reduction in people with overweight or obesity
and established cardiovascular disease, and Awiqli®, once-weekly
insulin icodec, was recommended for EU approval.
- In February 2024, Novo Nordisk
announced an agreement to acquire three fill-finish sites from Novo
Holdings A/S in connection with a transaction where Novo Holdings
A/S has agreed to acquire Catalent, Inc. Novo Nordisk expects that
the acquisition will be completed towards the end of 2024.
- For the 2024 outlook, sales growth
is now expected to be 19-27% at CER, and operating profit growth is
now expected to be 22-30% at CER. Growth reported in Danish kroner
is now expected to be in line with CER growth for both sales and
operating profit.
PROFIT AND LOSS |
Q1 2024 |
Q1 2023 |
Growthas reported |
Growthat CER* |
DKK million |
|
|
|
|
Net sales |
65,349 |
53,367 |
22% |
24% |
Operating
profit |
31,846 |
25,007 |
27% |
30% |
|
|
|
|
|
Net profit |
25,407 |
19,814 |
28% |
N/A |
Diluted earnings per share (in DKK) |
5.68 |
4.39 |
29% |
N/A |
* CER: Constant exchange rates (average 2023). |
|
|
|
|
Lars Fruergaard Jørgensen, president and CEO: "We are pleased
with the sales growth in the first three months of 2024, driven by
increased demand for our GLP-1-based diabetes and obesity
treatments. More patients benefit from our innovative treatments,
and the agreement to acquire the three Catalent manufacturing sites
will enable us to serve significantly more people living with
diabetes and obesity in the future. Within R&D, we are pleased
with the positive results from the kidney outcomes trial with
semaglutide and the label expansion for cardiovascular risk
reduction for Wegovy® in the US."
On 2 May 2024 at 13.00 CEST, corresponding to 07.00 am EDT, an
earnings call will be held. Investors will be able to listen in via
a link on novonordisk.com, which can be found under
‘Investors’.
About Novo Nordisk
Novo Nordisk is a leading global healthcare company, founded in
1923 and headquartered in Denmark. Our purpose is to drive change
to defeat serious chronic diseases, built upon our heritage in
diabetes. We do so by pioneering scientific breakthroughs,
expanding access to our medicines and working to prevent and
ultimately cure disease. Novo Nordisk employs about 66,000 people
in 80 countries and markets its products in around 170 countries.
Novo Nordisk's B shares are listed on Nasdaq Copenhagen (Novo-B).
Its ADRs are listed on the New York Stock Exchange (NVO). For more
information, visit novonordisk.com, Facebook, X, LinkedIn and
YouTube.
Contacts
for further information: |
|
Media: |
|
Ambre
James-Brown+45 3079 9289abmo@novonordisk.com |
Liz
Skrbkova (US)+1 609 917 0632lzsk@novonordisk.com |
|
|
Investors: |
|
Daniel
Muusmann Bohsen+45 3075 2175dabo@novonordisk.com |
David
Heiberg Landsted+45 3077 6915dhel@novonordisk.com |
Jacob Martin
Wiborg Rode+45 3075 5956jrde@novonordisk.com |
Mark Joseph
Root (US)+1 848 213 3219mjhr@novonordisk.com |
Sina
Meyer+45 3075 6656azey@novonordisk.com |
Frederik
Taylor Pitter+45 3075 8259fptr@novonordisk.com |
Ida Melvold
Gjøsund+45 3077 5649idmg@novonordisk.com |
|
Company announcement No 35 / 2024
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