Novo Nordisk's sales increased by 23% in Danish kroner and by 24% at constant exchange rates to DKK 204.7 billion in the first nine months of 2024

Novo Nordisk A/S
Novo Nordisk A/S
Novo Nordisk A/S
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Bagsv?rd, 6 November 2024  - Financial report for the period 1 January 2024 to 30 September 2024                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      

  • Operating profit increased by 21% in Danish kroner and by 22% at constant exchange rates (CER) to DKK 91.6 billion.

  • Sales in North America Operations increased by 31% in Danish kroner (31% at CER). Sales growth in the US was positively impacted by gross-to-net sales adjustments related to prior years. Sales in International Operations increased by 13% in Danish kroner (15% at CER).

  • Sales within Diabetes and Obesity care increased by 25% in Danish kroner to DKK 191.8 billion (26% at CER), mainly driven by GLP-1 diabetes sales growth of 25% in Danish kroner (26% at CER) and Obesity care growing by 44% in Danish kroner to DKK 43.7 billion (44% at CER). Rare disease sales increased by 3% in both Danish kroner and at CER.

  • Within R&D, Novo Nordisk completed the phase 2a trial with monlunabant in obesity and expects to initiate a larger phase 2b trial in obesity in 2025 to further investigate the dosing and safety profile of monlunabant over a longer duration in a global population. Further, within diabetes, Novo Nordisk announced that oral semaglutide statistically significantly reduced the risk of major adverse cardiovascular events in the SOUL cardiovascular outcomes trial.

  • Also within R&D, headline results were announced from the ESSENCE trial with semaglutide 2.4 mg in adults with MASH and liver fibrosis demonstrating superior improvement in both liver fibrosis and MASH resolution versus placebo.

  • For the 2024 outlook, sales growth is now expected to be 23-27% at CER, and operating profit growth is now expected to be 21-27% at CER. Growth reported in Danish kroner is now expected to be 1 percentage point lower than at CER growth for sales and 2 percentage points lower for operating profit.

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