Novo Nordisk
- a focused healthcare company
Investor presentation London
7 August 2020
2 | Investor presentation | First six months of 2020 |
Agenda
Highlights COVID-19 update Sales update R&D update Financials & outlook Strategic aspirations 2025
3 | Investor presentation | First six months of 2020 | Novo Nordisk® |
Forward-looking statements
Novo Nordisk's reports filed with or furnished to the US Securities and Exchange Commission (SEC), including this presentation as well as the company's statutory Annual Report 2019 and Form 20-F, which are both expected to be filed with the SEC in February 2020 in continuation of the publication of the Annual Report 2019, and written information released, or oral statements made, to the public in the future by or on behalf of Novo Nordisk, may contain forward-looking statements. Words such as 'believe', 'expect', 'may', 'will', 'plan', 'strategy', 'prospect', 'foresee', 'estimate', 'project', 'anticipate', 'can', 'intend', 'target' and other words and terms of similar meaning in connection with any discussion of future operating or financial performance identify forward-looking statements. Examples of such forward-looking statements include, but are not limited to:
- Statements of targets, plans, objectives or goals for future operations, including those related to Novo Nordisk's products, product research, product development, product introductions and product approvals as well as cooperation in relation thereto,
- Statements containing projections of or targets for revenues, costs, income (or loss), earnings per share, capital expenditures, dividends, capital structure, net financials and other financial measures,
- Statements regarding future economic performance, future actions and outcome of contingencies such as legal proceedings, and
- Statements regarding the assumptions underlying or relating to such statements.
These statements are based on current plans, estimates and projections. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific. Novo Nordisk cautions that a number of important factors, including those described in this presentation, could cause actual results to differ materially from those contemplated in any forward-looking statements.
Factors that may affect future results include, but are not limited to, global as well as local political and economic conditions, including interest rate and currency exchange rate fluctuations, delay or failure of projects related to research and/or development, unplanned loss of patents, interruptions of supplies and production, product recalls, unexpected contract breaches or terminations, government-mandated or market-driven price decreases for Novo Nordisk's products, introduction of competing products, reliance on information technology, Novo Nordisk's ability to successfully market current and new products, exposure to product liability and legal proceedings and investigations, changes in governmental laws and related interpretation thereof, including on reimbursement, intellectual property protection and regulatory controls on testing, approval, manufacturing and marketing, perceived or actual failure to adhere to ethical marketing practices, investments in and divestitures of domestic and foreign companies, unexpected growth in costs and expenses, failure to recruit and retain the right employees, and failure to maintain a culture of compliance.
For an overview of some, but not all, of the risks that could adversely affect Novo Nordisk's results or the accuracy of forward-looking statements in this presentation, reference is made to the overview of risk factors in 'Managing risks to protect value' on pp 33-35 of the Annual Report 2019.
Unless required by law, Novo Nordisk is under no duty and undertakes no obligation to update or revise any forward-looking statement after the distribution of this presentation, whether as a result of new information, future events or otherwise.
Important drug information
- Victoza® is approved for the management of type 2 diabetes only
- Saxenda® is approved in the USA and the EU for the treatment of obesity only
4 Investor presentation First six months of 2020
Strategic aspirations for 2025
-Highlights first six months of 2020
Adding value to society:
- Launch of new social responsibility strategy to defeat diabetes
- Participation in antimicrobial resistance initiative
- Expansion of US affordability offerings
- Societal contributions during COVID-19 pandemic
Sourcing of green power at all US operations and 100% renewable power across all production sites
39% reduction in CO2 emissions compared to the first half of 2019 due to use of renewable energy and lower travel activities
Diabetes sales increased by 7%:
- Value market share leadership expanded by 0.8%-points to 29.0%
- Sales of GLP-1 increased by 28% driven by continued performance of Ozempic®
Obesity sales increased by 9% to DKK 2.9 billion
Biopharm sales increased by 6% driven by IO and NAO
Novo Nordisk®
Diabetes:
- Insulin icodec phase 2 trial successfully completed
-
Rybelsus® approved in the EU, the UK and Japan
Obesity: - Successful completion of obesity trials:
- Semaglutide obesity phase 3 programme
- AM833 monotherapy phase 2 trial
-
AM833 in combination with semaglutide phase 1 trial
Other serious chronic disease:
- Agreement to acquire of Corvidia Therapeutics
- Positive phase 2 data for semaglutide in NASH
Sales increased by 7%, to DKK 63.9 billion
- 12% and 1% growth in IO and NAO, respectively
- In the US, 46% of sales transformed to products launched since 2015
Operating profit increased by 8% to DKK 30.1 billion
- Productivity improvement and improved admin-to-sales ratio
An interim dividend of DKK 3.25 for each Novo Nordisk A and B share of DKK 0.20, which will be paid in August 2020
The strategic aspirations are objectives that Novo Nordisk intends to work towards and are not a projection of Novo Nordisk's financial outlook or expected growth
Note: Unless otherwise specified growth rates are at constant exchange rates; FDA: Food and Drug Administration; EMA: European Medicines Agency; AGHD: Adult growth hormone disease; NASH: Non-alcoholic steatohepatitis; New-generation insulin: Tresiba®, Xultophy®, Ryzodeg®, Fiasp®
5 | Investor presentation | First six months of 2020 | Novo Nordisk® |
Novo Nordisk response to COVID-19 pandemic
Novo Nordisk status across the value chain
- All manufacturing sites are operational
- Medicines available to patients worldwide
Production
Gradual 'return to normal' across regions
• | China approaching pre-COVID-19 activity level |
• | EMEA and RoW cautiously re-opening |
• | ~60% of affiliates with some face-to-face |
R&D
Commercial
- Continuation of on-going clinical trials
- Trial recruitment negatively impacted, but gradually improving
- It is now possible to initiate new trials in certain countries
- Majority of Novo Nordisk medicines used for chronic treatment
- Fewer patients initiating new treatment
- Increased stocking partly driven by increased Rx duration
International
Operations
North America Operations
interactions with doctors | |
• | US status varies substantially per state |
• | Nearly 100% of US sales force partially back in |
the field |
6 | Investor presentation | First six months of 2020 | Novo Nordisk® |
COVID-19 negatively impacted new patient initiations in the US in the first half of 2020, but there are signs of gradual recovery
US insulin indexed NBRx development | US GLP-1 indexed NBRx development | US Saxenda® indexed NBRx development |
Index 140
120
100
80
60
40
Feb
2020
Insulin
13 March, lockdown implemented in most states
84
Jul
2020
Index | 13 March, lockdown | GLP-1 | |||||||
140 | |||||||||
implemented in most states | |||||||||
120 | |||||||||
100 | |||||||||
80 | 81 | ||||||||
60 | |||||||||
40 | |||||||||
Jul | |||||||||
Feb | 2/1/20 | 3/1/20 | 4/1/20 | 5/1/20 | 6/1/20 | ||||
1/1/20 | 7/1/20 | ||||||||
2020 | 2020 |
Index 140
120
100
80
60
40
Feb
2020
Saxenda®
13 March, lockdown implemented in most states
86
Jul
2020
Note: index based on average weekly observations in January 2020; "Insulin" consists of both long-acting and fast-acting insulin
Source: US weekly 1x1 NBRx (Xponent, Diabetes 10 July 2020, Obesity 10 July 2020)
7 | Investor presentation | First six months of 2020 | Novo Nordisk® |
Sales growth of 7% at CER, driven by solid sales growth in International Operations
Reported sales split for the first half of 2020 | ||||||||||||||||||||||
DKK | Insulin | GLP-1 | Other diabetes | Obesity | Biopharm | |||||||||||||||||
billion | Growth at CER | |||||||||||||||||||||
40 | ||||||||||||||||||||||
12% | ||||||||||||||||||||||
35 | ||||||||||||||||||||||
1% | ||||||||||||||||||||||
30 | International Operations | |||||||||||||||||||||
25 | ||||||||||||||||||||||
20 | 11% | |||||||||||||||||||||
15 | ||||||||||||||||||||||
14% | ||||||||||||||||||||||
10 | 12% | |||||||||||||||||||||
5 | ||||||||||||||||||||||
0 | ||||||||||||||||||||||
IO | EMEA | China | RoW | NAO | ||||||||||||||||||
Growth drivers for the first half of 2020
International Operations sales growth of 12% at CER
- Sales growth driven by all areas
- Growth was impacted by COVID-19-related stocking and other timing events, partially offset by fewer patients initiating treatment
North America Operations sales increased by 1% at CER
- Sales growth positively impacted by first quarter 2020 surge in demand
- Surge in demand largely offset by fewer patients initiating treatment and less use of NovoSeven® due to the lockdown
IO: International Operations; EMEA: Europe, Middle East, and Africa; China: Mainland China, Hong Kong, Taiwan; RoW: Rest of World; NAO: North America Operations
8 | Investor presentation | First six months of 2020 | Novo Nordisk® |
Sales growth driven by GLP-1, Obesity, and Biopharm
Added reported sales and growth per therapy area and
operational unit at CER
DKK | North America | International Operations | |||||||||||||||||
billion | Growth at CER | ||||||||||||||||||
6 | |||||||||||||||||||
5 | 7% | -3% | 28% | 9% | 6% | ||||||||||||||
4 | |||||||||||||||||||
37% | |||||||||||||||||||
3 | 12% | ||||||||||||||||||
2 | |||||||||||||||||||
25% | |||||||||||||||||||
10% | |||||||||||||||||||
1 | 10% | 8% | |||||||||||||||||
1% | |||||||||||||||||||
0 | |||||||||||||||||||
-1 | 9% | 1% | |||||||||||||||||
-23% | |||||||||||||||||||
-2 | |||||||||||||||||||
-3 | Total1 | Insulin | GLP-1 | Obesity | Biopharm | ||||||||||||||
Growth drivers for the first half of 2020
Expanding global diabetes value market leadership by 0.8%-pointsto
29.0%
-
Global insulin volume market share increased by 0.3%-points to
46.7% - GLP-1market leadership expands by 2.7%-points to 49.1% value market share
Global obesity value market share of 60.5%
Biopharm sales increased by 6% at CER, driven by Norditropin®
1 'Other diabetes' is included in Total CER: Constant exchange rates Source: IQVIA MAT, Jun 2020
9 | Investor presentation | First six months of 2020 | Novo Nordisk® |
Early Rybelsus® uptake further supports GLP-1 NBRx and TRx market leadership in the US
USA GLP-1 NBRx market share
Weekly | |||||
NBRx | Ozempic® | Rybelsus® | dulaglutide | NN GLP-1 | Victoza® |
share | |||||
70% | |||||
60% | 58.3% | ||||
50% | 50.9% | ||||
40% | 39.3% | 35.6% | |||
30% | 32.4% | 34.9% | |||
20% | 18.5% | 12.4% | |||
10% | |||||
11.0% | |||||
0% | Jun | Jul | |||
2019 | 2020 |
USA GLP-1 TRx market size and market share
Weekly | |||||
TRx | Ozempic® | Rybelsus® | dulaglutide | NN GLP-1 | Victoza® |
share | |||||
60% | Class growth around 30% | ||||
50% | 45.6% | 49.2% | |||
40% | 44.5% | 44.3% | |||
30% | 30.8% | 26.1% | |||
20% | 20.3% | ||||
10% | 13.8% | ||||
0% | 2.8% | ||||
Jun | Jul | ||||
2019 | 2020 |
Source: NBRx-IQVIA National LRx Weekly, Jul 2020
NBRx: New-to-brand prescriptions
10 | Investor presentation | First six months of 2020 | Novo Nordisk® |
Novo Nordisk is increasing its diabetes market share in IO, driven by insulin and GLP-1 growth
Diabetes value market share and share of growth in IO | Reported Insulin and GLP-1 sales, growth, and share of IO growth |
Market | NN market share | NN share of growth |
share | ||
30% | ||
25% | 25.8% | |
20% | 22.3% | |
15% | Market share | |
+0.4-pp vs. 2019 | ||
10% |
5%
0%
May | May |
2018 | 2020 |
Source: IQVIA moving annual total, spot rate, May 2020
IO: International operations; NN: Novo Nordisk; pp: Percentage points
IO: International Operations; EMEA: Europe, Middle East, and Africa; China: Mainland China, Hong Kong, Taiwan; ROW: Rest of World
DKK | Insulin | GLP-1 | Growth at | Share of | |||||
billion | |||||||||
CER | Growth | ||||||||
25 | |||||||||
12% | |||||||||
20 | 51% | ||||||||
15
10 11% 37%
12% | |||||||||||||
39% | |||||||||||||
5 | 14% | ||||||||||||
39% | |||||||||||||
42% | |||||||||||||
0 | 18% | ||||||||||||
IO | EMEA | China | ROW | ||||||||||
11 | Investor presentation | First six months of 2020 | Novo Nordisk® |
Saxenda® sales growth of 9% is impacted by fewer patient initiations
Reported sales split in operational units | Novo Nordisk remains global market leader |
DKK | NAO | IO | Market Share | Growth at CER | Market | ||||||
billion | 9%2 | Share | |||||||||
1.6 | 80% | ||||||||||
42%1 | |||||||||||
1.2 | 51%1 | 61% | 60% | ||||||||
0.8 | 64%1 | 40% | |||||||||
0.4 | 20% | ||||||||||
0 | 0% | ||||||||||
Q3 | Q4 | Q1 | Q2 | Q3 | Q4 Q1 | Q2 | Q3 | Q4 | Q1 Q2 | ||
2017 | 2018 | 2019 | 2020 |
- Year growth at CER
- Year-to-dategrowth at CER
EMEA: Europe, Middle East, and Africa
Note: Sales growth at constant exchange rates
Global
IO
NAO
- Novo Nordisk expands market leadership to 61% value market share from 52%
- Saxenda® is launched in 48 countries
- Sales growth impacted by fewer patients initiating treatment due to COVID-19
- Sales growth of 8% driven by EMEA and Rest of World
- Novo Nordisk currently has a value market share of 38% in the obesity market
- Sales growth of 9% driven by both the USA and Canada
- Novo Nordisk currently has a value market share of 72% in the obesity market
12 | Investor presentation | First six months of 2020 | Novo Nordisk® |
Biopharm sales growth of 6%, driven by Norditropin®
Reported Biopharm sales across products
DKK | Growth at CER | ||||
billion | 6% | -5% | -2% | 42% | 18% |
0.8 | |||||
0.6 | |||||
0.4 | Haemophilia | ||||
0.2 | |||||
0.0 | |||||
-0.2 | Novo- | Novo- | Other | Nordi- | |
Total | haemo- | ||||
Seven® | Eight® | tropin® | |||
-0.4 | philia® | ||||
Biopharm sales driven by global commercial execution
Biopharm sales growth driven by:
- 10% growth in International Operations
- 1% growth in North America Operations
- Impact from timing of shipments, changes in inventories, and COVID-19-related stocking
Haemophilia sales decreased by 1% driven by:
- Decreased NovoSeven® sales, partly reflecting reduced bleedings and elective surgeries due to COVID-19 lockdowns.
Norditropin® sales increased by 18% at CER
- Novo Nordisk is the leading company in the global human growth disorder market with a value market share of 34.2%
Note: ''Other haemophilia' includes the new products Esperoct® and Refixia® as well as NovoThirteen®
Note: Sales growth at constant exchange rates
13 | Investor presentation | First six months of 2020 | Novo Nordisk® |
Across the STEP 1, 3, and 4 trials, a weight loss of 16.9% to 18.2% was reported for people treated with semaglutide 2.4 mg
STEP 1 | STEP 3 | STEP 4 | STEP 2 | ||
Weight | Weight management | Sustained weight management | Weight management with | ||
management | with IBT | From initiation | From randomisation | T2DM | |
Baseline body | to 68 weeks | to 68 weeks1 | |||
105.3 | 105.8 | 107.2 | 96.1 | 99.8 | |
weight (kg) | |||||
10 | Sema | Placebo | Sema | IBT | Sema | Placebo | Sema | Placebo | Sema | Placebo | |
+ IBT | 6.5 | ||||||||||
from baseline | 5 | ||||||||||
0 | |||||||||||
-5 | -2.4 | -3.1 | |||||||||
BW(%) | -5.0 | -5.2 | |||||||||
-10 | -8.8* | -10.6* | |||||||||
Change | in | ||||||||||
-15 | |||||||||||
-20 | -16.9* | -17.6* | -18.2 * |
1 The primary endpoint was measured as the change in weight from randomisation (after a 20-weekrun-in) to week 68.
*Statistically significant, based on the trial product estimand (secondary statistical approach): treatment effect if all people adhered to treatment and did not initiate other anti-obesity therapies
IBT: Intensive behavioural therapy; Sema: Semaglutide; BW: Body weight; T2D: Type 2 diabetes
14 | Investor presentation | First six months of 2020 | Novo Nordisk® |
The AM833 phase 2 monotherapy trial and phase 1 combination with semaglutide trial decreased weight by 10.8% and 17.1%
Weight loss for AM833 plus lifestyle intervention1
- change in body weight
0 | Mean baseline: 107.4 kg | |||
-4 | ||||
-8 | ||||
- 10.8% | ||||
-12 | ||||
0 | Weeks | 26 | ||
AM833 | AM833 | AM833 | AM833 | AM833 |
0.3mg | 0.6mg | 1.2mg | 2.4mg | 4.5mg |
Placebo | Lira | |||
3.0mg |
Weight loss for AM833 and semaglutide in phase 12
- change in body weight
0 | Mean baseline: 95.1 kg | |
-4 | ||
-8 | - 9.5% | |
-12 | ||
-16 | - 17.1% | |
-20 | ||
0 | Weeks | 20 |
AM833 0.3 mg | AM833 0.16 mg | AM833 0.6 mg | AM833 1.2 mg | AM833 2.4 mg |
sema 2.4 mg | sema 2.4 mg | sema 2.4 mg | sema 2.4 mg | sema 2.4 mg |
sema 2.4 mg |
- Lifestyle intervention is defined as counselling for a reduced-calorie diet and increased physical activity. Data is based on the trial product estimand: treatment effect if all people adhered to treatment and did not initiate other anti-obesity therapies
- Data are observed means, 20 week phase 1b trial dosing increments with semaglutide and AM833 once-weekly with a 16 week dose-escalation regimen. Data is based on the trial product estimand.
15 | Investor presentation | First six months of 2020 | Novo Nordisk® |
R&D milestones for 2020 and Q1 2021
Clinical milestones1 | ||||||||||||||
Regulatory milestones1 | ||||||||||||||
Project | Q2 2020 | Q3 2020 | Q4 2020 | Q1 2021 | ||||||||||
Diabetes | Ozempic® | SUSTAIN FORTE - | SUSTAIN FORTE - | |||||||||||
Phase 3 results | US/EU submission | |||||||||||||
Xultophy® | ||||||||||||||
China submission | ||||||||||||||
Icodec | Phase 3 initiation | |||||||||||||
Rybelsus® | EU commission decision | |||||||||||||
Japan PMDA decision | ||||||||||||||
Obesity | Semaglutide Obesity | Phase 3 results | US/EU submission | |||||||||||
AM833 (Amylin) | Phase 2 results | |||||||||||||
AM833 + Semaglutide | Phase 1 results | |||||||||||||
Obesity projects | Phase 1 results (terminated) | |||||||||||||
Biopharm | Somapacitan (AGHD) | US/EU decision | Japan decision | |||||||||||
Other serious chronic | Semaglutide NASH | Phase 2 results | Phase 2 results (PoC, Gilead) | |||||||||||
diseases | ||||||||||||||
PCSK9i | Phase 1 results |
Staten | Phase 1 initiation |
Ziltivekimab | Phase 2 results |
1 Expected to be published in the given quarter or in the subsequent quarterly company announcement; Note: Trial initiations could be impacted by COVID-19 status; Concizumab phase 2 and phase 3 clinical trials paused; Timeline for the FGF-21 in NASH project has moved
Sema: Semaglutide; GIP: Gastric inhibitory polypeptide; EU: European Union; JP PMDA: Japanese Pharmaceutical and Medical Devices Agency; OW: Once-weekly; AGHD: Adult growth hormone deficiency; PoC: Proof of Concept; NASH: Non- alcoholic steatohepatitis
16 | Investor presentation | First six months of 2020 | Novo Nordisk® |
Financial results - First six months of 2020
First six | First six | Change | Change | |
months of | months | (reported) | (CER) | |
In DKK million | 2020 | of 2019 | ||
Sales | 63,881 | 59,327 | 8% | 7% |
Gross profit | 53,723 | 49,746 | 8% | |
Gross margin | 84.1% | 83.9% | ||
Sales and distribution costs | 14,988 | 14,526 | 3% | 3% |
Percentage of sales | 23.5% | 24.5% | ||
Research and development costs | 7,068 | 6,235 | 13% | 13% |
Percentage of sales | 11.1% | 10.5% | ||
Administration costs | 1,754 | 1,763 | (1%) | 0% |
Percentage of sales | 2.7% | 3.0% | ||
Other operating income, net | 227 | 469 | (52%) | |
Operating profit | 30,140 | 27,691 | 9% | 8% |
Operating margin | 47.2% | 46.7% | ||
Financial items (net) | (1,703) | (2,324) | (27%) | |
Profit before income tax | 28,437 | 25,367 | 12% | |
Income taxes | 5,915 | 5,327 | 11% | |
Effective tax rate | 20.8% | 21.0% | ||
Net profit | 22,522 | 20,040 | 12% | |
Diluted earnings per share (DKK) | 9.58 | 8.39 | 14% |
CER: Constant exchange rates
17 | Investor presentation | First six months of 2020 | Novo Nordisk® |
Currency developments in the first six months of 2020
currencies | 5% | Avg. H1 2020 vs. H1 2019 | Exp. avg FY 20201vs. FY 2019 | |||||||||
3% | ||||||||||||
1% | ||||||||||||
Hedged | -1% | |||||||||||
-3% | ||||||||||||
-5% | USD/DKK | CNY/DKK | JPY/DKK | CAD/DKK | GBP/DKK | |||||||
currencies | 10% | |||||||||||
-10% | ||||||||||||
hedged- | 0% | |||||||||||
-20% | ||||||||||||
Non | -30% | |||||||||||
-40% | RUB/DKK | INR/DKK | ARS/DKK | BRL/DKK | TRY/DKK | |||||||
Hedged | H1 2019 | H1 2020 | Spot rate2 | Impact of a 5% | Hedging |
currencies | avg. | avg. | move4 | (months) | |
USD2 | 661 | 678 | 635 | 1,850 | 10 |
CNY2 | 97 | 96 | 91 | 400 | 65 |
JPY2 | 6.0 | 6.3 | 6.0 | 150 | 12 |
CAD2 | 495 | 497 | 473 | 130 | 9 |
GBP2 | 855 | 855 | 827 | 100 | 10 |
Non-hedged | H1 2019 | H1 2020 | Spot rate3 | ||
currencies | avg. | avg. | |||
ARS2 | 0.2 | 0.1 | 0.1 | ||
TRY2 | 118 | 105 | 91 | ||
INR2 | 9.4 | 9.2 | 8.4 | ||
RUB2 | 10.1 | 9.8 | 8.6 | ||
BRL2 | 172 | 140 | 121 | ||
- Year-to-daterealised data and remainder expected flat currency development based on the spot rate as of 3 August 2020; 2 DKK per 100; 3 Spot rate as of 3 August 2020;
- Impact on operating profit in the next 12 months of a 5% immediate currency move. DKK million per annum; 5 Chinese Yuan traded offshore (CNH) Note: Operating profit impact of one of the non-hedged currencies appreciating 5% is in the range of DKK +10 to +50 million
18 | Investor presentation | First six months of 2020 | Novo Nordisk® |
Financial outlook for 2020
Expectations | Expectations |
6 August 2020 | 6 May 2020 |
Sales growth - at CER Sales growth - reported Operating profit growth - at CER
Operating profit growth - reported Financial items (net)
Effective tax rate
Free cash flow
3% to 6% | 3% to 6% |
Around 2 percentage points lower | Around 1 percentage point higher |
2% to 5% | 1% to 5% |
Around 3 percentage points lower | Around 1 percentage point higher |
Loss of around DKK 1.2 billion | Loss of around DKK 2.5 billion |
20% to 22% | 20% to 22% |
DKK 33 to 38 billion | DKK 36 to 41 billion |
The financial outlook is based on an assumption of a continuation of the current business environment and given the current scope of business activities and has been prepared assuming that currency exchange rates remain at the level as of 3 Aug 2020
19 Investor presentation First six months of 2020
Strategic aspirations for 2025 -Milestones expected for 2020
Launch of new social responsibility strategy to defeat diabetes
Expansion of the US affordability offerings Utilise solar energy power across all US operations 100% renewable power in 2020 for all production sites
Expand diabetes market leadership led by launches and penetration of Ozempic®, Rybelsus®, and new-generationinsulin
Strengthen Obesity leadership with continued global rollout and penetration of Saxenda®
Continued launches of key Biopharm products Refixia® and
Esperoct® support sustained growth outlook
Novo Nordisk®
Diabetes:
- Sema FORTE phase 3 results due Q4 2020
- Insulin icodec phase 3 initiation in Q4 2020
Obesity:
- Semaglutide obesity phase 3 successfully completed
- AM833 monotherapy and in combination with semaglutide phase 2 successfully completed
Biopharm:
- Mim8 phase 1/2 initiated
- Somapacitan regulatory feedback from the FDA/EMA for the treatment of AGHD
Other serious chronic diseases:
- Phase 2 readouts from two NASH trials
- Signed an agreement for the acquisition of Corvidia
Sales growth is still expected to be 3-6% (reported: around 2 percentage point lower)
Operating profit growth is now expected to be 2-5%(reported: around 3 percentage points lower)
Free cash flow is now expected to be in the range of DKK 33-38 billion
DKK 17 billion share repurchase programme
The strategic aspirations are objectives that Novo Nordisk intends to work towards and are not a projection of Novo Nordisk's financial outlook or expected growth
Note: Outlook as of 6 May 2020; Unless otherwise specified growth rates are at constant exchange rates; FDA: Food and Drug Administration; EMA: European Medicines Agency; AGHD: Adult growth hormone disease; NASH: Non-alcoholic steatohepatitis; New-
generation insulin: Tresiba®, Xultophy®, Ryzodeg®, Fiasp®
20 | Investor presentation | First six months of 2020 | Novo Nordisk® |
Investor contact information
Share information
Novo Nordisk's B shares are listed on the stock exchange in Copenhagen under the symbol 'NOVO B'. Its ADRs are listed on the New York Stock Exchange under the symbol 'NVO'.
For further company information, visit Novo Nordisk on: www.novonordisk.com
Upcoming events
30 Oct 2020 Financial statement for the first nine months of 2020
03 Feb 2021 Financial statement for the full year of 2020
Investor Relations contacts
Novo Nordisk A/S
Investor Relations
Novo Allé
DK-2880 Bagsværd
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 (USA) | +1 609 235 2989 | krdb@novonordisk.com |
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Novo Nordisk A/S published this content on 06 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 August 2020 08:11:05 UTC