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Novo Nordisk increased reported operating profit by 10% in the first three months of 2017
Sales increased by 5% measured in Danish kroner

Sales increased by 5% in Danish kroner and by 3% in local currencies to USD 4.1 billion.

  • Sales of Tresiba® increased by 174% to USD 0.2 billion (166% in local currencies).
  • Sales of Victoza® increased by 25% to USD 0.8 billion (22% in local currencies).
  • Sales of Saxenda® increased by 122% to USD 0.1 billion (110% in local currencies)
  • Sales in North America Operations increased by 5% (2% in local currencies).
  • Sales in International Operations increased by 4% (4% in local currencies).

Sales within diabetes and obesity care increased by 13% to USD 3.4 billion (11% in local currencies). Sales within biopharmaceuticals declined by 24% to USD 0.7 billion (25% in local currencies), primarily reflecting an impact from rebate adjustments in Q1 2016 and a recent introduction of a generic version of Vagifem®, both in the USA.

Operating profit increased by 10% reported in Danish kroner and by 6% in local currencies to USD 1.9 billion.

Net profit increased by 7% to USD 1.5 billion. Diluted earnings per share increased by 9% to USD 0.58.

In the first quarter of 2017, Fiasp®, fast-acting insulin aspart, received marketing authorisation from the European Commission as well as approvals in Norway, Iceland and Canada. Fiasp® has now been launched in the first European countries as well as Canada. Furthermore, Novo Nordisk resubmitted the New Drug Application for fast-acting insulin aspart in the USA following the Complete Response Letter received in October 2016.  

In May, Novo Nordisk received approval from the EU commission for the label update of Tresiba® based on data from the SWITCH trials, demonstrating a clinically relevant reduction in hypoglycaemia compared with insulin glargine U100.

In March, Novo Nordisk received positive opinion from the European Medicines Agency for the recommendation of a marketing authorisation for Refixia® (nonacog beta pegol, N9-GP) for the treatment of haemophilia B.

As of 1 July 2017, Lars Green will be appointed executive vice president and head of Business Services and Compliance.

For 2017, reported sales growth is now expected to be 1-4% measured in Danish kroner, now reflecting a positive currency impact of 1 percentage point. Reported operating profit growth is now expected to be 0-4% measured in Danish kroner, now reflecting a positive currency impact of 1 percentage point.

Lars Fruergaard Jørgensen, president and CEO: “With the performance in the first three months, we are well on track towards our targets for 2017. Sales were driven by our new, innovative products within diabetes and obesity care, and we are seeing the effects of our cost control initiatives, enabling us to invest in future growth opportunities.”

ABOUT NOVO NORDISK

Novo Nordisk is a global healthcare company with more than 90 years of innovation and leadership in diabetes care. This heritage has given us experience and capabilities that also enable us to help people defeat other serious chronic conditions: haemophilia, growth disorders and obesity. Headquartered in Denmark, Novo Nordisk employs approximately 42,000 people in 77 countries, and markets its products in more than 165 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 novonordisk.com

CONFERENCE CALL DETAILS

On 3 May 2017 at 13.00 CEST, corresponding to 7:00 am EDT, a conference call will be held. Investors will be able to listen via a link on novonordisk.com, which can be found under ‘Investors’. Presentation material for the conference call will be available approximately one hour before on the same page.

WEBCAST DETAILS

On 4 May 2017 at 14.15 CEST, corresponding to 8.15 am EDT, management will give a presentation to institutional investors and sell-side analysts in London. A webcast of the presentation can be followed via a link on novonordisk.com, which can be found under ‘Investors’. Presentation material for the webcast will be made available on the same page.

FINANCIAL CALENDAR

9 August 2017

Financial Statement for first six months of 2017

1 November 2017

Financial Statement for first nine months of 2017

1 February 2018

Financial Statement for 2017

 

 

CONTACTS FOR FURTHER INFORMATION

Media:

 

 

Katrine Sperling

+45 3079 6718

krsp@novonordisk.com

Ken Inchausti (US)

+1 267 809 7552

kiau@novonordisk.com

 

 

 

Investors:

 

 

Peter Hugreffe Ankersen

+45 3075 9085

phak@novonordisk.com

Hanna Ögren

+45 3079 8519

haoe@novonordisk.com

Anders Mikkelsen

+45 3079 4461

armk@novonordisk.com

Kasper Veje (US)

+1 609 235 8567

kpvj@novonordisk.com

Further information about Novo Nordisk is available on novonordisk.com.

 

*For convenience, Danish kroner has been translated to USD in this release, using the average exchange rate of USD 1.0 = DKK 6.98478.

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