Novo Nordisk's net profit increased by 10% in the first six months of 2021
4 August 2021 - Financial report for the period 1 January 2021 to 30 June 2021
- Operating profit decreased by 1% in Danish kroner and increased by 9% at constant exchange rates (CER).
- Sales increased by 5% in Danish kroner and by 12% at CER to DKK 66.8 billion. Sales in International Operations increased by 7% in Danish kroner (13% at CER), and sales in North America Operations increased by 1% in Danish kroner (11% at CER).
- Sales within Diabetes and Obesity care increased by 5% in Danish kroner to DKK 56.9 billion (13% at CER), driven by GLP-1 growth of 21% in Danish kroner (30% at CER) reflecting the uptake of Ozempic® and Rybelsus®. Obesity care grew by 23% in Danish kroner (34% at CER) and Biopharm sales remained unchanged in Danish kroner (increased by 7% at CER).
- In June 2021, Wegovy™, semaglutide 2.4 mg, was made available to patients in the US following the approval from the US Food and Drug Administration (FDA) for weight management in adults living with obesity.
- For the 2021 outlook, sales growth is now expected to be 10-13% at CER (previously 6-10%), and operating profit growth is now expected to be 9-12% at CER (previously 5-9%). Sales growth reported in Danish kroner is still expected to be 4 percentage points lower than at CER and operating profit growth reported in Danish kroner is now expected to be 5 percentage points lower than at CER.
|PROFIT AND LOSS||H1 2021||H1 2020||Growth|
|DKK million|| || || || |
|Net sales||66,845 ||63,881 ||5 %||12 %|
|Operating profit||29,761 ||30,140 ||(1%)||9%|
| || || || || |
|Net profit||24,746 ||22,522 ||10%||N/A|
|Diluted earnings per share (in DKK)||10.71 ||9.58 ||12%||N/A|
* CER: Constant exchange rates (average 2020).
Lars Fruergaard Jørgensen, president and CEO: "We are pleased with the sales growth in the first half of 2021. The growth is driven by all geographical areas within International Operations as well as North America Operations, and by all therapy areas, in particular by our portfolio of GLP-1 treatments. Within R&D, we reached a very important milestone with the approval of Wegovy™ in the US, offering people living with obesity a new, efficacious treatment option. The strong financial performance in the first half of 2021 and the initial substantial demand for Wegovy™ in the US have enabled us to raise our outlook for the full year."
On 4 August 2021 at 19.00 CEST, corresponding to 13.00 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’.
About Novo Nordisk
Novo Nordisk is a leading global healthcare company, founded in 1923 and headquartered in Denmark. Our purpose is to drive change to defeat diabetes and other serious chronic diseases such as obesity and rare blood and endocrine disorders. We do so by pioneering scientific breakthroughs, expanding access to our medicines and working to prevent and ultimately cure disease. Novo Nordisk employs about 45,800 people in 80 countries and markets its products in around 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 and YouTube.
|Financial calendar|| |
|3 November 2021||Financial statement for the first nine months of 2021|
|2 February 2022||Financial statement for 2021|
|Contacts for further information|| |
|Media:|| || |
|Mette Kruse Danielsen||+45 3079 email@example.com|
|Michael Bachner (US)||+1 609 664 firstname.lastname@example.org|
| || || |
|Investors:|| || |
|Daniel Muusmann Bohsen||+45 3075 email@example.com|
|Ann Søndermølle Rendbæk||+45 3075 firstname.lastname@example.org|
|David Heiberg Landsted||+45 3077 email@example.com|
|Mark Joseph Root (US)||+1 848 213 firstname.lastname@example.org|
Company announcement No 48 / 2021