Novo Nordisk's net profit increased by 6% in the first three months of 2021
May 05 2021 - 1:30AM
Novo Nordisk's net profit increased by 6% in the first three months
of 2021
Financial report for the period 1 January 2021 to
31 March 2021
- Operating profit decreased by 8% in Danish kroner and increased
by 3% at constant exchange rates (CER).
- Sales remained unchanged in Danish kroner and increased by 7%
at CER to DKK 33.8 billion. Sales in International Operations
increased by 2% in Danish kroner (9% at CER), and sales in North
America Operations decreased by 3% in Danish kroner (increased 6%
at CER). Sales growth is negatively impacted by COVID-19-related
stocking in 2020, partially offset by inventory changes and timing
of shipments in 2021.
- Sales within Diabetes and Obesity care increased by 1% in
Danish kroner to DKK 28.8 billion (9% at CER), driven by GLP-1
growth of 13% in Danish kroner (23% at CER) reflecting the uptake
of Ozempic® and Rybelsus®. Biopharm sales decreased by 6% in Danish
kroner (increased by 1% at CER).
- Within R&D, Novo Nordisk decided to initiate phase 3a
development with 50 mg oral semaglutide in obesity. Following the
Refusal to File letter in the US covering the label expansion
application for once-weekly semaglutide 2.0 mg for the treatment of
type 2 diabetes, Novo Nordisk is working towards resubmission in
the second quarter of 2021.
- For the 2021 outlook, sales growth is now expected to be 6-10%
at CER, and operating profit growth is now expected to be 5-9% at
CER. The ongoing share buyback programme will be expanded to DKK 18
billion.
PROFIT AND
LOSS |
Q1 2021 |
Q1 2020 |
Growthas reported |
Growthat CER* |
DKK
million |
|
|
|
|
Net sales |
33,804 |
33,875 |
0% |
7% |
Operating profit |
14,982 |
16,302 |
(8%) |
3% |
|
|
|
|
|
Net
profit |
12,623 |
11,897 |
6% |
N/A |
Diluted
earnings per share (in DKK) |
5.45 |
5.05 |
8% |
N/A |
* CER: Constant exchange rates (average 2020).
Lars Fruergaard Jørgensen, president and CEO:
"We are very encouraged with the sales growth in the first three
months of 2021. Sales growth was driven by all therapy areas and
across geographical areas within International Operations as well
as North America Operations where growth has accelerated in the US.
We were also pleased to announce plans to develop oral semaglutide
as a convenient and effective treatment option for people with
obesity, complementing our injectable obesity medications. The
solid financial performance in the first three months of 2021 has
enabled us to raise our outlook range for the full year."
On 5 May 2021 at 13.00 CEST, corresponding to 7.00 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 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 45,800 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 |
|
5 August 2021 |
Financial statement for the first six
months of 2021 |
3 November 2021 |
Financial statement for the first nine
months of 2021 |
2 February 2022 |
Financial statement for 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 |
Company announcement No 30 / 2021
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