Novo Nordisk



Novo Nordisk's sales increased by 26% in Danish kroner and by 16% at constant exchange rates to DKK 177.0 billion in 2022

Financial report for the period 1 January 2022 to 31 December 2022

1 February 2023                                                                                                                                                                                

Novo Nordisk's sales increased by 26% in Danish kroner and by 16% at constant exchange rates to DKK 177.0 billion in 2022

  • Operating profit increased by 28% in Danish kroner and by 15% at constant exchange rates (CER) to DKK 74.8 billion.
  • Sales in North America Operations increased by 35% in Danish kroner (21% at CER), and sales in International Operations increased by 17% in Danish kroner (13% at CER).
  • Sales within Diabetes and Obesity care increased by 29% in Danish kroner to DKK 156.4 billion (19% at CER), mainly driven by GLP-1 diabetes sales growth of 56% in Danish kroner (42% at CER). Rare disease sales increased by 7% measured in Danish kroner (1% at CER).
  • Obesity care sales grew by 101% in Danish Kroner (84% at CER). All Wegovy® dose strengths were made available again in the US in December 2022.
  • Within R&D, Novo Nordisk initiated two phase 1 trials in NASH based on the siRNA technology platform.
  • For the 2023 outlook, both sales and operating profit growth are expected to be 13-19% at CER. Sales and operating profit growth reported in Danish kroner are expected to be 4 and 5 percentage points lower than at CER, respectively.
  • At the Annual General Meeting on 23 March 2023, the Board of Directors will propose a final dividend of DKK 8.15 for 2022 per share. The expected total dividend for 2022 is DKK 12.40 per share, of which DKK 4.25 was paid as interim dividend in August 2022. The Board of Directors has decided to initiate a new 12-month share repurchase programme of up to DKK 28 billion.

PROFIT AND LOSS20222021Growth
as reported
at CER*
DKK million    
Net sales        176,954                140,800                26%                16%        
Operating profit        74,809                58,644                28%                15%        
Net profit        55,525                47,757                16%        N/A
Diluted earnings per share (in DKK)        24.44                20.74                18%        N/A
* CER: Constant exchange rates (average 2021).    

Lars Fruergaard Jørgensen, president and CEO: "We are very pleased with the double-digit sales growth in 2022 driven by our innovative GLP-1-based diabetes and obesity treatments, and more than 36 million people living with diabetes are now benefiting from our treatments. We continued to make progress on our Strategic aspirations and in 2023, we will continue our focus on strong commercial execution, expanding and progressing our innovative pipeline and investing significantly in the expansion of production capacity for current and future portfolio."

On 1 February 2023 at 13.00 CET, corresponding to 07.00 am EST, an earnings call will be held. Investors will be able to listen in via a link on, 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 54,400 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, Facebook, Twitter, LinkedIn and YouTube.

Financial calendar  
23 March 2023Annual General Meeting 
4 May 2023Financial statement for the first three months of 2023 
10 August 2023Financial statement for the first six months of 2023 
2 November 2023Financial statement for the first nine months of 2023 

Novo Nordisk’s Annual Report 2022 is available at and attached in iXBRL format

Contacts for further information 
Ambre Brown Morley

+45 3079 9289
Natalia Salomao Abrahao (US)

+1 848 304 1027
Daniel Muusmann Bohsen

+45 3075 2175

David Heiberg Landsted

+45 3077 6915

Jacob Martin Wiborg Rode

+45 3075 5956

Mark Joseph Root (US)

+1 848 213 3219

Company announcement No 5 / 2023