Press release

Novo Nordisk's net profit increased by 10% in the first six months of 2021

4 August 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 USD 10.8 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 USD 9.2 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 as reported	Growth at CER*
USD million
Net sales	10,837	9,424	5%	12%
Operating profit	4,825	4,446	(1%)	9%
Net profit	4,012	3,322	10%	N/A
Diluted earnings per share (in USD)	1.74	1.41	12%	N/A

* CER: Constant exchange rates (average 2020).

**For convenience, Danish kroner has been translated to USD in this release, using the average exchange rate of USD 1.0 = DKK 6.16823

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’.