Novo Nordisk’s Operating Profit Increased by 12%

| By | Financial Results, Novo Nordisk
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Novo Nordisk’s operating profit increased by 12% in Danish kroner and by 6% at constant exchange rates (CER) in the first six months of 2019.

Sales increased by 9% in Danish kroner and by 5% at CER to DKK 59.3 billion. Sales in International Operations increased by 13% in Danish kroner (12% at CER), driven by growth in all regions. Sales in North America Operations increased by 5% in Danish kroner (decreased by 2% at CER).

Sales within Diabetes and obesity increased by 10% to DKK 50.1 billion (6% at CER), driven by Diabetes growing 4% at CER and Obesity growing 56% at CER. Sales within Biopharmaceuticals increased by 7% to DKK 9.3 billion (3% at CER).

Sales of Ozempic® were DKK 3,750 million and it has now been launched in 21 countries. In the USA, the new-to-brand prescription market share for Ozempic® is now 35%, bringing Novo Nordisk’s combined GLP-1 new-to-brand prescription market share to 53%.

During second quarter of 2019, Novo Nordisk initiated four late-stage clinical trials with Ozempic® (injectable semaglutide) and oral semaglutide in people with type 2 diabetes and serious complications, including cardiovascular disease, diabetic retinopathy and chronic kidney disease.

Executive Vice President (EVP) of Business Services & Compliance Lars Green has decided to resign to take up an executive position outside of Novo Nordisk. Monique Carter has been promoted to EVP of People & Organisation and member of Novo Nordisk’s Executive Management.

For the 2019 outlook, sales growth is now expected to be 4-6% at CER (previously 2-5% at CER), and operating profit growth is now expected to be 4-6% at CER (previously 2-6% at CER).

PROFIT AND LOSS H1 2019 H1 2018 Growth

as reported

Growth

at CER*

DKK million
Net sales 59,327 54,337 9 % 5 %
Operating profit 27,691 24,652 12 % 6 %
Net profit 20,040 21,094 (5 %) N/A
Diluted earnings per share (in DKK) 8.39 8.66 (3 %) N/A

* CER: Constant exchange rates (average 2018)

Lars Fruergaard Jørgensen, president and CEO:

“We are pleased with the sales growth in the first half of 2019, which is driven by all regions in International Operations. The launch of Ozempic® is expanding the GLP-1 market, and we are encouraged by the positive market reception in both North America and Europe. With the initiation of four major late-stage clinical trials, we continue to investigate the clinical benefits of semaglutide across multiple indications. The solid financial performance in the first half of 2019 has enabled us to raise our outlook for the full-year”.

SOURCE: novonordisk.com
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