Investor Presentation
139
Investor presentation
First six months of 2022
Solid sales growth driven by Diabetes and Obesity care
DKK billion
150
Reported annual sales 2017-2021
+4.7%¹
14%
15%
16%
100
17%
16%
86%
50
50
84%
85%
83%
84%
0
2017
2018
2019
2020
2021
Diabetes and Obesity care
Rare disease
1 CAGR for 5-year period
S&D: Sales and distribution; R&D: Research and development
Note: The outlined expected developments are aspirations and not long-term financial targets
السمر
لام
Expected development towards 2025
Gross margin
Remain broadly stable
Novo NordiskⓇ
S&D cost ratio
Gradually decline enabled by
attractive sales growth
R&D cost ratio
8
88
Administration
cost ratio
Gradually increase to
expand and diversify pipeline
Decline driven by efficiency
gains
Operating
margin
Remain broadly stableView entire presentation