Company announcement

Novo Nordisk's sales increased by 26% in Danish kroner and by 16% at constant exchange rates to USD 25.0 billion in 2022

Financial report for the period 1 January 2022 to 31 December 2022

• Operating profit increased by 28% in Danish kroner and by 15% at constant exchange rates (CER) to USD 10.6 billion. 

• Sales in North America Operations increased by 35% in Danish kroner (21% at CER), and sales in International Operations increased by 17% in Danish kroner (13% at CER).

• Sales within Diabetes and Obesity care increased by 29% in Danish kroner to USD 22.1 billion (19% at CER), mainly driven by GLP-1 diabetes sales growth of 56% in Danish kroner (42% at CER). Rare disease sales increased by 7% measured in Danish kroner (1% at CER).

• Obesity care sales grew by 101% in Danish Kroner (84% at CER). All Wegovy^® dose strengths were made available again in the US in December 2022.

• Within R&D, Novo Nordisk initiated two phase 1 trials in NASH based on the siRNA technology platform.

• For the 2023 outlook, both sales and operating profit growth are expected to be 13-19% at CER. Sales and operating profit growth reported in Danish kroner are expected to be 4 and 5 percentage points lower than at CER, respectively. 

•  At the Annual General Meeting on 23 March 2023, the Board of Directors will propose a final dividend of USD 1.15 for 2022 per share. The expected total dividend for 2022 is USD 1.75 per share, of which USD 0.6 was paid as interim dividend in August 2022. The Board of Directors has decided to initiate a new 12-month share repurchase programme of up to USD 4 billion.

 

PROFIT AND LOSS	2022	2021	Growth as reported	Growth at CER*
USD million
Net sales	25,011	22,395	26%	16%
Operating profit	10,574	9,328	28%	15%
Net profit	7,848	7,596	16%	N/A
Diluted earnings per share (in USD)	3.45	3.3	18%	N/A
* CER: Constant exchange rates (average 2021).

Lars Fruergaard Jørgensen, president and CEO: "We are very pleased with the double-digit sales growth in 2022 driven by our innovative GLP-1-based diabetes and obesity treatments, and more than 36 million people living with diabetes are now benefiting from our treatments. We continued to make progress on our Strategic aspirations and in 2023, we will continue our focus on strong commercial execution, expanding and progressing our innovative pipeline and investing significantly in the expansion of production capacity for current and future portfolio."

 

On 1 February 2023 at 13.00 CET, corresponding to 07.00 am EST, 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’.