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Novo Nordisk's sales increased by 26% in Danish kroner and by 16% at constant exchange rates to DKK 128.9 billion in the first nine months of 2022

Novo Nordisk A/S
Novo Nordisk A/S

Financial report for the period 1 January 2022 to 30 September 2022

  • Operating profit increased by 28% in Danish kroner and by 14% at constant exchange rates (CER) to DKK 57.7 billion.

  • Sales in North America Operations increased by 37% in Danish kroner (22% at CER), and sales in International Operations increased by 16% in Danish kroner (11% at CER).

  • Sales within Diabetes and Obesity care increased by 29% in Danish kroner to DKK 113.2 billion (18% at CER), mainly driven by GLP-1 diabetes sales growth of 59% in Danish kroner (44% at CER). Rare disease sales increased by 8% measured in Danish kroner (2% at CER).

  • Obesity care sales grew by 91% in Danish Kroner (75% at CER). Novo Nordisk expects to make all Wegovy® dose strengths available in the US towards the end of 2022.

  • Within R&D, Novo Nordisk successfully completed a phase 2 trial with CagriSema in people with type 2 diabetes and the last phase 3a trial with once-weekly insulin icodec.

  • For the 2022 outlook, sales growth is now expected to be 14-17% at CER and operating profit growth is now expected to be 13-16% at CER. Sales and operating profit growth reported in Danish kroner are now expected to be 10 and 15 percentage points higher than at CER, respectively.

PROFIT AND LOSS

9M 2022

9M 2021

Growth
as reported

Growth
at CER*

DKK million

 

 

 

 

Net sales

128,862

102,467

26%

16%

Operating profit

57,722

45,010

28%

14%

 

 

 

 

 

Net profit

41,933

36,865

14%

N/A

Diluted earnings per share (in DKK)

18.42

15.98

15%

N/A

* CER: Constant exchange rates (average 2021).

 

 

 

 

Lars Fruergaard Jørgensen, president and CEO: "We are very pleased with the sales growth in the first nine months of 2022 which has enabled us to raise the outlook for the full year. The growth is driven by increasing demand for GLP-1-based diabetes treatments, especially Ozempic®. Within R&D, the encouraging phase 2 data with CagriSema in type 2 diabetes and the successful completion of the phase 3 programme for once-weekly insulin icodec support our aspiration of further raising the innovation bar for diabetes treatments."

On 2 November 2022 at 13.00 CET, corresponding to 08.00 pm EDT, an earnings call will be held. Investors will be able to listen in via a link on novonordisk.com, which can be found under ‘Investors’.

Contacts for further information

Media:

 

Ambre Brown Morley

+45 3079 9289
abmo@novonordisk.com

Natalia Salomao Abrahao (US)

+1 848 304 1027
niaa@novonordisk.com

 

 

Investors:

 

Daniel Muusmann Bohsen

+45 3075 2175
dabo@novonordisk.com

David Heiberg Landsted

+45 3077 6915
dhel@novonordisk.com

Jacob Martin Wiborg Rode

+45 3075 5956
jrde@novonordisk.com

Mark Joseph Root (US)

+1 848 213 3219
mjhr@novonordisk.com

Company announcement No 79 / 2022

Attachment