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Novo Nordisk's operating profit decreased by 8% in Danish kroner and increased by 6% in local currencies in the first three months of 2018
Sales decreased by 5% in Danish kroner and increased by 5% in local currencies

Sales decreased by 5% in Danish kroner and increased by 5% in local currencies to USD 4.4 billion.

• Sales of Victoza® increased by 4% to USD 1.0 billion (18% in local currencies).

• Sales of Tresiba® increased by 18% to USD 0.3 billion (33% in local currencies).

• Sales of Saxenda® increased by 43% to USD 0.1 billion (64% in local currencies).

• Sales in North America Operations decreased by 11% (increased by 3% in local currencies).

• Sales in International Operations were unchanged (increased by 8% in local currencies).

Sales within diabetes care and obesity decreased by 5% to USD 3.7 billion (increased by 6% in local currencies). Sales within biopharmaceuticals decreased by 8% to USD 0.7 billion (increased by 1% in local currencies).

Operating profit decreased by 8% reported in Danish kroner and increased by 6% in local currencies to USD 2.1 billion, reflecting the significant depreciation of the US dollar and related currencies versus the Danish krone.

Net profit increased by 6% to USD 1.8 billion. Diluted earnings per share increased by 8% to USD 0.73.

In February, Novo Nordisk announced that the European Commission had granted marketing authorisation for Ozempic® (subcutaneous semaglutide) for the treatment of adults with type 2 diabetes. In March, Novo Nordisk announced that the Japanese Ministry of Health, Labour and Welfare had approved Ozempic®. Furthermore, in February, Novo Nordisk launched Ozempic® in the USA following the approval in December 2017.

In February, Novo Nordisk successfully completed the first phase 3a trial, PIONEER 1, with oral semaglutide for treatment of adults with type 2 diabetes. The trial achieved its primary objective by demonstrating statistically significant and superior improvements in blood glucose levels (HbA1c) for all three doses of oral semaglutide compared to placebo.

In March, Novo Nordisk announced that the US Food and Drug Administration had approved an update to the US prescribing information for Tresiba® (insulin degludec) based on the DEVOTE trial to include data on cardiovascular outcomes and severe hypoglycaemia in the label.

For 2018, sales growth is now expected to be 3-5% measured in local currencies compared with the prior guidance of 2-5% and operating profit growth is now expected to be 2-5% compared with the prior guidance of 1-5%.

Sales growth and operating profit growth reported in Danish kroner are now expected to be 6 and 9 percentage points lower than in local currencies, respectively.

Lars Fruergaard Jørgensen, president and CEO: “Based on the performance of our key products Victoza®, Tresiba® and Saxenda®, we delivered solid underlying growth in both sales and operating profit in the first three months of 2018. We reached important milestones with our once-weekly GLP-1 Ozempic®, as we launched in the USA and received approvals in both the EU and Japan. Moreover, we are encouraged by the first clinical results for oral semaglutide from the PIONEER 1 trial.”

About Novo Nordisk

Novo Nordisk is a global healthcare company with 95 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 diseases. Headquartered in Denmark, Novo Nordisk employs approximately 42,700 people in 79 countries, and markets its products in more than 170 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, Facebook, Twitter, LinkedIn, YouTube.

Conference call details

On 2 May 2018 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’. Presentation material for the conference call will be available approximately one hour before on the same page.

Webcast details

On 3 May 2018 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

8 August 2018 Financial statement for first six months of 2018

1 November 2018 Financial statement for first nine months of 2018

1 February 2019 Financial statement for 2018

Contacts for further information

Media:

Katrine Sperling +45 3079 6718 [email protected]

Ken Inchausti (USA) +1 267 809 7552 [email protected]

Investors:

Peter Hugreffe Ankersen +45 3075 9085 [email protected]

Anders Mikkelsen +45 3079 4461 [email protected]

Christina Kjær +45 3079 3009 [email protected]

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 6.05774.

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