full announcement

03 May 2019 07:30 CET

Novo Nordisk's operating profit increased by 14% in Danish kroner and by 8% at constant exchange rates (CER) in the first three months of 2019

  • Sales increased by 9% in Danish kroner and by 4% at CER to DKK 29.3 billion. Operating profit growth of 8% at CER was positively impacted by a reversal of write-downs of oral semaglutide prelaunch inventory. 
  • Sales in International Operations increased by 13% in Danish kroner (13% at CER), driven by growth in all regions and positively impacted by timing of shipments. Sales in North America Operations increased by 4% in Danish kroner (decreased 4% at CER), negatively impacted by inventory reductions. 
  • Sales within Diabetes and obesity increased by 10% to DKK 24.8 billion (5% at CER), driven by Diabetes growing 4% at CER and Obesity growing 51% at CER. Sales within biopharmaceuticals increased by 3% to DKK 4.5 billion (unchanged at CER).
  • Sales of Ozempic® were DKK 1,425 million and it has now been launched in 19 countries. In the USA, the new-to-brand prescription market share for Ozempic® has now exceeded 30% bringing Novo Nordisk's combined GLP-1 new-to-brand prescription market share to 50%.
  • Oral semaglutide has been filed for regulatory approval of glycaemic control in both the USA and the EU. Furthermore, oral semaglutide and Ozempic® have been filed for regulatory approval for CV risk reduction in the USA. 
  • For the 2019 outlook, sales growth is still expected to be 2-5% at CER, and operating profit growth is still expected to be 2-6% at CER.


PROFIT AND LOSS Q1 2019   Growth

as reported

at CER*
DKK million        
Net sales 29,291     9 % 4 %
Operating profit 14,239     14 % 8 %
Net profit 10,445     (3 %) N/A
Diluted earnings per share 4.36     (1 %) N/A

* CER: Constant exchange rates (average 2018)

Lars Fruergaard Jørgensen, president and CEO: "We delivered very solid performance in International Operations, driven by sales growth in all regions, meanwhile, sales in the USA were negatively impacted by inventory reductions. The global launch of Ozempic®, our new once-weekly GLP-1, is well on track and continues to gain market share. From a regulatory perspective, we achieved important milestones with the filing of oral semaglutide both in the USA and the EU. Based on the progress we made in the first quarter of 2019, we are on track to deliver on our outlook for the full-year."

On 3 May 2019 at 13.00 CEST, corresponding to 7.00 am EDT, a conference call will be held. Investors will be able to listen in via a link on, which can be found under 'Investors'. Presentation material for the conference call will be available approximately one hour before on the same page.

Financial calendar  
09 August 2019 Financial statement for the first six months of 2019
01 November 2019 Financial statement for the first nine months of 2019
05 February 2020 Financial statement for 2019

Contacts for further information 

Mette Kruse Danielsen +45 4442 3883
Ken Inchausti (US) +1 609 240 9429
Peter Hugreffe Ankersen +45 3075 9085
Valdemar Borum Svarrer +45 3079 0301
Ann Søndermølle Rendbæk +45 3075 2253
Kristoffer Due Berg (US) +1 609 235 2989

Company announcement No 30 / 2019