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Novo Nordisk increased reported operating profit by 5% in the first nine months of 2017
Reported sales increased by 2% to USD 12.5 billion (3% in local currencies)

Sales within diabetes and obesity care increased by 7% to USD 10.4 billion (8% in local currencies).

  • Sales of Tresiba® increased by 117% to USD 0.8 billion (118% in local currencies).
  • Sales of Victoza® increased by 15% to USD 2.5 billion (15% in local currencies).
  • Sales of Saxenda® increased by 80% to USD 0.3 billion (77% in local currencies)

Sales within biopharmaceuticals declined by 18% to USD 2.1 billion (18% in local currencies), primarily reflecting an impact from the introduction of a generic version of the hormone replacement therapy product Vagifem® and from rebate adjustments for human growth hormone in Q1 2016, both in the USA, whereas sales within haemophilia were broadly unchanged.

Sales within International Operations increased by 3% in Danish kroner (5% in local currencies) driven by sales growth in all business regions. Sales within North America Operations were unchanged in both Danish kroner and local currencies, reflecting the non-recurring effects in biopharmaceuticals impacting growth negatively by 5 percentage points.

Operating profit increased by 5% reported in Danish kroner and by 6% in local currencies to USD 5.8 billion. Net profit increased by 2% to USD 4.5 billion. Diluted earnings per share increased by 5% to USD 1.80.

In August, Novo Nordisk showed that the once-weekly GLP-1 semaglutide was superior to once-weekly dulaglutide on glucose control and weight loss in people with type 2 diabetes in the SUSTAIN 7 trial. In October, semaglutide received a positive 16-0 vote in favour of approval from an FDA Advisory Committee.

In August, Novo Nordisk also obtained approval of the Victoza® label expansion for cardiovascular risk reduction in the USA, and in September the label expansion for the reduced risk of severe hypoglycaemia with Tresiba® was endorsed by CHMP in the EU. Also in September, Novo Nordisk obtained approval of the new fast-acting mealtime insulin Fiasp® in the USA.

The financial outlook for 2017 has been updated and the sales growth measured in local currencies is now expected to be in the range of 2% to 3% compared with the previous range of 1% to 3%. A negative currency impact of 2 percentage points is now expected. Operating profit growth measured in local currencies is now expected to be in the range of 3% to 6% compared with the previous range of 1% to 5%. A negative currency impact of 3 percentage points is now expected.

The preliminary outlook for 2018 in local currencies indicates low to mid single-digit growth in both sales and operating profit. Sales growth reported in Danish kroner is expected to be 3 percentage points lower than in local currencies, and reported operating profit growth is expected to be 4 percentage points lower.

Lars Fruergaard Jørgensen, president and CEO: “We continue to deliver on our plans for 2017, and we are very pleased with the recent clinical and regulatory progress for our key products. We are currently preparing the global launch of semaglutide, which provides a unique opportunity to improve the treatment of people with type 2 diabetes.”

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 obesity, haemophilia, growth disorders and other serious chronic conditions. Headquartered in Denmark, Novo Nordisk employs approximately 41,700 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 1 November 2017 at 12:30 CET, corresponding to 7:30 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’. Presentation material for the conference call will be available approximately one hour before on the same page.

WEBCAST DETAILS

On 2 November 2017 at 14.15 CET, corresponding to 9.15 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

21 November 2017

Capital Markets Day

1 February 2018

Financial Statement for 2017

6 February 2018

PDF Version of Annual Report 2017

7 February 2018

Deadline for the company’s receipts of shareholder proposals for the Annual General Meeting 2018

23 February 2018

Printed version of the Annual Report 2017

22 March 2018

Annual General Meeting 2018

2 May 2018

Financial Statement for the first three months of 2018

8 August 2018

Financial Statement for the first six months of 2018

1 November 2018

Financial Statement for the first nine months of 2018

 

 

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

Christina Kjær

+45 3079 3009

cnje@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 6.69561

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