Novo Nordisk's sales increased by 16% in Danish kroner and by 14% at constant exchange rates (CER) to DKK 33.9 billion in the first three months of 2020
Estimated sales growth adjusted for COVID-19-related stocking around 7% at CER
- Sales in International Operations increased by 19% in Danish kroner (19% at CER), driven by growth in all areas. Sales in North America Operations increased by 12% in Danish kroner (9% at CER). In both operating units, sales were impacted by COVID-19-related stocking.
- Sales within Diabetes and Obesity care increased by 15% to DKK 28.6 billion (14% at CER), driven by Diabetes care growing by 13% at CER and Obesity care growing by 30% at CER. Sales within Biopharm increased by 18% to DKK 5.3 billion (16% at CER).
- Sales of GLP-1 increased by 40% in Danish kroner (37% at CER) reflecting the solid uptake of Ozempic®. In the US, Rybelsus® market access is progressing and the weekly new-to-brand market share has reached 8.8%.
- The pipeline progressed with approval of Rybelsus® in the EU and successful completion of the phase 2 trial with semaglutide in NASH, both in April.
- For the 2020 outlook, sales growth is still expected to be 3-6% at CER, and operating profit growth is still expected to be 1-5% at CER. The maintained outlook reflects the negative impacts from COVID-19, largely offset by underlying performance.
|PROFIT AND LOSS||Q1 2020||Q1 2019||Growth|
|Diluted earnings per share (in DKK)||5.05||4.36||16%||N/A|
* CER: Constant exchange rates (average 2019)
Lars Fruergaard Jørgensen, president and CEO: "Societies are severely impacted by the COVID-19 outbreak, and during the pandemic our key priorities are to safeguard our employees, continue the supply of our life-saving medicines and use our expertise, resources and global reach to help societies around the world during the pandemic. COVID-19-related stocking impacted our results; however, we are satisfied with the underlying commercial performance as well as the progression of our pipeline with the approval of Rybelsus® in the EU and the encouraging phase 2 data for semaglutide in NASH."
On 6 May 2020 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 novonordisk.com, which can be found under ‘Investors’.
|06 August 2020||Financial statement for the first six months of 2020|
|30 October 2020||Financial statement for the first nine months of 2020|
|03 February 2021||Financial statement for 2020|
|Contacts for further information|
|Mette Kruse Danielsen||+45 3079 firstname.lastname@example.org|
|Ken Inchausti (US)||+1 609 240 email@example.com|
|Daniel Muusmann Bohsen||+45 3075 firstname.lastname@example.org|
|Valdemar Borum Svarrer||+45 3079 email@example.com|
|Ann Søndermølle Rendbæk||+45 3075 firstname.lastname@example.org|
|Mark Joseph Root||+45 3079 email@example.com|
|Kristoffer Due Berg (US)||+1 609 235 firstname.lastname@example.org|
Further information about Novo Nordisk is available on novonordisk.com
Company announcement No 28 / 2020