Novo Nordisk's sales increased by 16% in Danish kroner and by 14% at constant exchange rates (CER) to DKK 33.9 billion in the first three months of 2020
Estimated sales growth adjusted for COVID-19-related stocking around 7% at CER
- Sales in International Operations increased by 19% in Danish kroner (19% at CER), driven by growth in all areas. Sales in North America Operations increased by 12% in Danish kroner (9% at CER). In both operating units, sales were impacted by COVID-19-related stocking.
- Sales within Diabetes and Obesity care increased by 15% to DKK 28.6 billion (14% at CER), driven by Diabetes care growing by 13% at CER and Obesity care growing by 30% at CER. Sales within Biopharm increased by 18% to DKK 5.3 billion (16% at CER).
- Sales of GLP-1 increased by 40% in Danish kroner (37% at CER) reflecting the solid uptake of Ozempic®. In the US, Rybelsus® market access is progressing and the weekly new-to-brand market share has reached 8.8%.
- The pipeline progressed with approval of Rybelsus® in the EU and successful completion of the phase 2 trial with semaglutide in NASH, both in April.
- For the 2020 outlook, sales growth is still expected to be 3-6% at CER, and operating profit growth is still expected to be 1-5% at CER. The maintained outlook reflects the negative impacts from COVID-19, largely offset by underlying performance.
| PROFIT AND LOSS | Q1 2020 | Q1 2019 | Growth as reported | Growth at CER* | |
| DKK million | |||||
| Net sales | 33,875 | 29,291 | 16% | 14% | |
| Operating profit | 16,302 | 14,239 | 14% | 12% | |
| Net profit | 11,897 | 10,445 | 14% | N/A | |
| Diluted earnings per share (in DKK) | 5.05 | 4.36 | 16% | N/A | |
* CER: Constant exchange rates (average 2019)
Lars Fruergaard Jørgensen, president and CEO: "Societies are severely impacted by the COVID-19 outbreak, and during the pandemic our key priorities are to safeguard our employees, continue the supply of our life-saving medicines and use our expertise, resources and global reach to help societies around the world during the pandemic. COVID-19-related stocking impacted our results; however, we are satisfied with the underlying commercial performance as well as the progression of our pipeline with the approval of Rybelsus® in the EU and the encouraging phase 2 data for semaglutide in NASH."
On 6 May 2020 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’.
| Financial calendar | |
| 06 August 2020 | Financial statement for the first six months of 2020 |
| 30 October 2020 | Financial statement for the first nine months of 2020 |
| 03 February 2021 | Financial statement for 2020 |
| Contacts for further information | ||
| Media: | ||
| Mette Kruse Danielsen | ||
| Ken Inchausti (US) | ||
| Investors: | ||
| Daniel Muusmann Bohsen | ||
| Valdemar Borum Svarrer | ||
| Ann Søndermølle Rendbæk | ||
| Mark Joseph Root | ||
| Kristoffer Due Berg (US) |
Further information about Novo Nordisk is available on novonordisk.com
Company announcement No 28 / 2020
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