Investor Presentaiton
Novo Nordisk Annual Report 2023
FINANCIALS
Introducing Novo Nordisk Strategic Aspirations Risks
Management
Consolidated statements
Additional information
2023 performance
and 2024 outlook
STRATEGIC ASPIRATIONS 2025
1. Deliver solid sales and operating profit growth
2. Drive operational efficiencies across the value chain to enable
investments in future growth assets
3. Deliver free cash flow to enable attractive capital allocation
to shareholders
Financial performance
Sales increased by 31% measured in Danish kroner and by 36% at CER
to DKK 232,261 million in 2023. Novo Nordisk's 2023 sales and operating
profit performance measured at CER were within the ranges provided in
November 2023. The free cash flow, effective tax rate, capital expenditure
as well as depreciation, amortisation and impairment losses were all in
line with the guidance.
FINANCIAL PERFORMANCE (DKK billion)
North America Operations net sales
O Growth at CER
300
250
International Operations net sales
16%
200
14%
7%
150
100
50
36%
0
2020
2021
2022
2023
Geographic sales development
Sales in North America Operations increased by 50% measured in
Danish kroner and by 54% at CER.
Sales in International Operations increased by 11% measured in Danish
kroner and by 16% at CER. Sales in EMEA increased by 15% measured in
Danish kroner and by 17% at CER. Sales in Region China increased by 3%
measured in Danish kroner and by 11% at CER. Sales in Rest of World
increased by 11% measured in Danish kroner and by 15% at CER.
Sales development across therapeutic areas
Sales in Diabetes care increased by 24% measured in Danish kroner and
by 29% at CER. Sales of Obesity care products, WegovyⓇ and SaxendaⓇ,
increased by 147% measured in Danish kroner and by 154% at CER.
Sales of Rare disease products decreased by 16% measured in Danish
kroner and by 15% at CER.
In the following sections, unless otherwise noted, market data are based
on moving annual total (MAT) from November 2022 and November 2023
provided by the independent data provider IQVIA.
Diabetes care
Sales in Diabetes care increased by 24% measured in Danish kroner and
by 29% at CER to DKK 173,466 million driven by growth of GLP-1-based
products. Novo Nordisk has improved the global diabetes value market
share over the last 12 months to 33.8% from 31.9%.
The market share increase was driven by market share gains in both
North America Operations and International Operations.
GLP-1-based therapy for type 2 diabetes
Sales of GLP-1-based products for type 2 diabetes (Rybelsus®, OzempicⓇ
and VictozaⓇ) increased by 48% measured in Danish kroner and by 52%
at CER to DKK 123,132 million. The estimated global GLP-1 share of total
diabetes prescriptions has increased to 6.0% compared with 4.5% 12
months ago. Novo Nordisk continues to be the global market leader in
the GLP-1 segment with a 54.8% value market share.
RybelsusⓇ sales increased by 66% measured in Danish kroner and by
71% at CER to DKK 18,750 million. Sales growth was driven by North
America Operations as well as EMEA and Rest of World.
OzempicⓇ sales increased by 60% measured in Danish kroner and by
66% at CER to DKK 95,718 million. Sales growth was driven by both
North America Operations and International Operations. Sales growth
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