Novo Nordisk's net profit increased by 8% in 2020
February 03 2021 - 1:30AM
Novo Nordisk's net profit increased by 8% in 2020
Financial report for the period 1 January 2020 to 31
December 2020
- Sales increased by 4% in Danish kroner and by 7% at CER to DKK
126.9 billion. Sales in International Operations increased by 7% in
Danish kroner (10% at CER), and sales in North America Operations
increased by 1% in Danish kroner (3% at CER). Sales growth was
negatively impacted by COVID-19, driven by fewer patients
initiating treatment.
- Sales within Diabetes and Obesity care increased by 5% to DKK
108.0 billion (8% at CER), driven by GLP-1 growth of 26% in Danish
kroner (29% at CER) reflecting the uptake of Ozempic® and
Rybelsus®. Biopharm sales decreased by 1% in Danish kroner
(increased by 1% at CER).
- The R&D pipeline progressed with the submissions of new
drug applications for semaglutide 2.4 mg in obesity in the US and
the EU. Furthermore, the phase 3b trial with semaglutide 2.0 mg in
people with type 2 diabetes was successfully completed.
- As per end of February 2021, Mads Krogsgaard Thomsen, executive
vice president (EVP) and chief scientific officer (CSO) will retire
from Novo Nordisk and be succeeded by Marcus Schindler, who is
promoted to CSO and EVP for Research & Early Development and
Martin Holst Lange, who is promoted to EVP for Development.
- For the 2021 outlook, sales growth is expected to be 5-9% at
CER, and operating profit growth is expected to be 4-8% at CER.
Growth reported in DKK is expected to be around 4 and 6 percentage
points lower than at CER for sales and operating profit,
respectively.
- At the Annual General Meeting on 25 March 2021, the Board of
Directors will propose a final dividend of DKK 5.85 for 2020 per
share of DKK 0.20. The expected total dividend for 2020 is DKK 9.10
per share, of which DKK 3.25 was paid as interim dividend in August
2020. The Board of Directors intends to initiate a new 12-month
share repurchase programme of up to DKK 17 billion.
PROFIT
AND LOSS |
2020 |
2019 |
Growth as reported |
Growth at CER* |
DKK
million |
|
|
|
|
Net sales |
126,946 |
122,021 |
4% |
7% |
Operating profit |
54,126 |
52,483 |
3% |
7% |
|
|
|
|
|
Net
profit |
42,138 |
38,951 |
8% |
N/A |
Diluted earnings per share (in DKK) |
18.01 |
16.38 |
10% |
N/A |
* CER: Constant exchange rates (average 2019).
Lars Fruergaard Jørgensen, president and CEO:
"We are very satisfied with the progress on our Strategic
Aspirations in 2020 despite the challenges of COVID-19. This was
only possible due to the commitment from all our employees. The
financial results reflect sales growth in both International
Operations and North America Operations driven by more patients
using our GLP-1 treatments. Within R&D, key milestones in the
fourth quarter were the regulatory submissions of semaglutide 2.4
mg which has the potential to redefine the treatment of obesity. In
2021, we will continue our focus on commercial execution while
conducting more late-stage clinical trial programmes than ever to
meet the unmet needs of people living with diabetes and other
serious chronic diseases."
On 3 February 2021 at 13.00 CET, corresponding to 7.00 am EST, 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’.
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 diabetes and other serious chronic diseases such as
obesity and rare blood and endocrine disorders. We do so by
pioneering scientific breakthroughs, expanding access to our
medicines and working to prevent and ultimately cure disease. Novo
Nordisk employs about 45,000 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, Twitter, LinkedIn, YouTube.
Financial calendar |
|
10 February 2021 |
Deadline for shareholder proposals to the
Annual General Meeting |
25 March 2021 |
Annual General Meeting |
5 May 2021 |
Financial statement for the first three
months of 2021 |
5 August 2021 |
Financial statement for the first six
months of 2021 |
3 November 2021 |
Financial statement for the first nine
months of 2021 |
Contacts for further
information |
|
Media: |
|
|
Mette Kruse Danielsen |
+45 3079 3883 |
mkd@novonordisk.com |
Michael Bachner (US) |
+1 609 664 7308 |
mzyb@novonordisk.com |
|
|
|
Investors: |
|
|
Daniel Muusmann Bohsen |
+45 3075 2175 |
dabo@novonordisk.com |
Valdemar Borum Svarrer |
+45 3079 0301 |
jvls@novonordisk.com |
Ann Søndermølle Rendbæk |
+45 3075 2253 |
arnd@novonordisk.com |
Mark Joseph Root |
+45 3079 4211 |
mjhr@novonordisk.com |
Kristoffer Due Berg (US) |
+1 609 235 2989 |
krdb@novonordisk.com |
Further information about Novo Nordisk is available on
novonordisk.com.
Company announcement No 6 / 2020
Novo Nordisk (TG:NOVC)
Historical Stock Chart
From Jun 2024 to Jul 2024
Novo Nordisk (TG:NOVC)
Historical Stock Chart
From Jul 2023 to Jul 2024