Financial Data and Key Metrics Changes - In 2023, the company achieved a sales growth of 36% and an operating profit growth of 44%, both measured at constant exchange rates [7][22] - The gross margin increased to 84.6% compared to 83.9% in 2022, driven by a positive product mix [22] - Net profit increased by 51%, and diluted earnings per share rose by 52% to DKK 18.62 [25] Business Line Data and Key Metrics Changes - GLP-1 sales in diabetes increased by 52%, with North America growing by 52% and international operations by 53% [8] - Obesity care sales grew by 154%, with North America operations seeing a 212% increase [9] - Insulin sales decreased by 6%, primarily due to declining sales in the U.S. and China [8] Market Data and Key Metrics Changes - In North America, the company holds around 54% market share in the GLP-1 class [11] - The global diabetes value market share increased to 33.8%, surpassing the strategic aspiration of one-third [9] - In international operations, total diabetes care sales increased by 20%, driven by GLP-1 sales growing 53% [10] Company Strategy and Development Direction - The company aims to treat more patients with innovative treatments and has expanded its pipeline across all therapy areas [6] - A focus on sustainability is evident, with a 34% reduction in carbon emissions compared to pre-pandemic levels [5] - The company plans to increase capital expenditure to around DKK 45 billion in 2024 to expand production capacity [26] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued sales growth between 18% and 26% at constant exchange rates for 2024 [28] - The outlook reflects expectations for ongoing volume growth of GLP-1 treatments, despite potential supply constraints [29] - Management highlighted the importance of scaling supply to meet increasing demand, particularly with the launch of Wegovy [39] Other Important Information - The company returned over DKK 61.7 billion to shareholders through share buybacks and dividends in 2023 [27] - The company has proposed a final dividend of DKK 6.40 for 2023, marking a 50% increase compared to 2022 [27] Q&A Session Questions and Answers Question: Update on GLP-1/GIP dual agonist and oral amycretin - Management expressed confidence in managing GI toxicity during the titration phase for the once-monthly GLP-1/GIP [34] - No specific Phase 1 data for oral amycretin was disclosed, but management indicated progress in development [35] Question: Scaling supply and 340B policy revenue recognition - Management confirmed that scaling supply remains a priority and emphasized the importance of not annualizing Q4 results [38] - The company is only partially recognizing 340B revenue due to accounting standards, with ongoing litigation affecting future recognition [40] Question: Launch of Lilly Zepbound and NASH/MASH studies - Management indicated that market demand, competition, and supply capacity are considered in guidance [42] - The ESSENCE NASH study results are expected around the turn of the year, with further updates on the FGF21 study later [45] Question: Changes in competitive dynamics for Ozempic and Wegovy - Management noted stable formulary access for GLP-1s, with over 90% unrestricted access [66] - Stay time for Wegovy is reportedly better than previous treatments, with strong retention observed [67] Question: Guidance range for revenue growth and commercial coverage - The guidance range for revenue growth is wider due to market dynamics and supply constraints [72] - The company continues to enjoy broad market access for Wegovy, covering around 50 million people living with obesity [75]

The soaring popularity of weight loss drugs Ozempic and Wegovy has catapulted parent company Novo Nordisk’s valuation past the half-trillion dollar threshold, according to a report.The Danish pharmaceutical company, which initially marketed the drugs as a treatment for diabetes, has a valuation of $506 billion, according to CNBC, which analyzed data from the London Stock Exchange Group.Novo Nordisk’s stock price was up by nearly 5%, at nearly $114, after the company released better-than-expected quarterly ...

The American depositary receipts (ADRs) of Novo Nordisk (NVO), the market leader in weight-loss drugs, rose sharply in early trading Wednesday, hitting an all-time high, after the Danish company said it expects sales growth this year of between 18% and 26% in constant exchange terms.The company also reported better-than-forecast sales that were 36% higher last year at 232.3 billion kroner ($33.8 billion) on the back of buoyant demand for its weight loss drug Wegovy and diabetes drug Ozempic. "Our focus in 2 ...

Novo Nordisk A/S (NVO) reported fourth-quarter 2023 earnings of 71 cents per American Depositary Receipt (ADR), which surpassed the Zacks Consensus Estimate of 66 cents. The company had reported earnings of 41 cents per ADR in the year-ago quarter.Revenues of $9.51 billion increased 37% in Danish kroner (DKK) and were up 43% at constant exchange rate (CER) in the reported quarter. Total revenues also beat the Zacks Consensus Estimate of $9.14 billion. The year-over-year increase in revenues was driven by hi ...

Here are three stocks with buy ranks and strong growth characteristics for investors to consider today, January 31st:Ternium S.A. (TX) : This steel products company carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its next year earnings increasing 6.9% over the last 60 days.Ternium has a PEG ratio of 0.92 compared with 1.27 for the industry. The company possesses a Growth Score  of A.Powell Industries, Inc. (POWL) : This custom-engineered equipment and systems company carries a Za ...

Novo Nordisk on Wednesday said its fourth-quarter profit surged by nearly two-thirds, driven by the popularity of its weight-loss drugs that have made it Europe’s largest company.Novo Nordisk NVO, said its profit rose 62% to 21.96 billion kroner ($3.19 billion), as sales climbed 37% to 65.86 billion kroner. Its operating profit came in 5% ahead of a company-compiled consensus, while sales were 4% ahead of estimates.Novo Nordisk shares NOVO.B, +1.54% rose 2% in early Copenhagen trade, and the stock has soare ...

ToplineDanish pharma giant Novo Nordisk on Wednesday reported better-than-expected earnings for 2023, propelled by a tsunami of demand for its blockbuster weight loss and diabetes drugs as new treatments emerge and compete for a slice of the growing market.Sales of Wegovy, an injectable prescription weight loss medicine, has helped boost profits for Novo ... [+] Nordisk.UCG/Universal Images Group via Getty Images Key FactsNovo Nordisk reported $33.7 billion of sales for 2023, an increase of 36% at constant ...

Novo Nordisk, Europe's largest company by market capitalization, on Wednesday reported better-than-expected 2023 earnings, as sales of its wildly popular anti-obesity and diabetes drugs continued to soar.The maker of weight loss drug Wegovy and diabetes drug Ozempic reported an increase in sales of 31% in Danish kroner and 36% at constant exchange rates (CER) to 232.3 billion kroner ($33.71 billion).Full-year operating profit jumped by 37% in kroner and 44% at constant exchange rates to 102.6 billion kroner ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) o REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR o SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 19 ...

Financial Performance - Novo Nordisk's sales increased by 31% in Danish kroner and by 36% at constant exchange rates to DKK 232.3 billion in 2023[3]. - Operating profit rose by 37% in Danish kroner and by 44% at constant exchange rates to DKK 102.6 billion[3]. - The company achieved a net profit of DKK 83,683 million in 2023, marking a 51% increase compared to 2022[14]. - Gross profit for 2023 was DKK 196,496 million, reflecting a 32% increase year-over-year, with a gross margin of 84.6%[14]. - The diluted earnings per share rose to DKK 18.62, a 52% increase from the previous year[14]. - Net sales for 2023 reached DKK 232,261 million, a 31% increase from 2022, and a 36% increase at constant exchange rates (CER)[14]. - Operating profit (EBIT) increased by 44% at CER to DKK 102,574 million, reflecting strong sales growth[61]. - Net profit increased by 51% to DKK 83,683 million, with diluted earnings per share rising by 52% to DKK 18.62[62]. - Free cash flow for 2023 was DKK 68.3 billion, with DKK 61.7 billion returned to shareholders[12]. Sales Growth - Sales in North America Operations surged by 50% in Danish kroner, while International Operations saw an 11% increase[3]. - Diabetes and Obesity care sales grew by 38% in Danish kroner to DKK 215.1 billion, driven by a 48% increase in GLP-1 diabetes sales and a 147% increase in Obesity care sales[3]. - Sales growth for 2024 is expected to be between 18% to 26% at CER, with operating profit growth projected at 21% to 29% at CER[81][82]. - Sales of the injectable GLP-1 product Ozempic reached DKK 95,718 million, a 60% increase from 2022[17]. - Sales of GLP-1-based products for type 2 diabetes increased by 48% in Danish kroner and by 52% at CER to DKK 123,132 million, with a global market share of 6.0%[22]. - Sales of Obesity care products increased by 147% in Danish kroner and by 154% at CER to DKK 41,632 million, driven by North America Operations and International Operations[37]. - Wegovy sales surged by 407% in Danish kroner and by 420% at CER to DKK 31,343 million, reflecting strong demand and a commercial relaunch in the US[37]. - Sales in North America Operations increased by 67% at CER, driven by Obesity care sales growing by 151% at CER[66]. Dividends and Shareholder Returns - The Board of Directors proposed a final dividend of DKK 6.40 per share for 2023, totaling an expected DKK 9.40 per share for the year[4]. - The total dividend per share for 2023 was DKK 9.40, also reflecting a 52% increase year-over-year[14]. - Proposed final dividends of DKK 28,557 million are included in retained earnings, reflecting the company's commitment to returning value to shareholders[139]. Research and Development - Novo Nordisk completed a phase 3 trial with IcoSema and initiated a phase 1 trial with oral amycretin in Obesity care[4]. - Research and development costs increased by 37% at CER to DKK 32,443 million, reflecting increased clinical trial activity[60]. - The phase 3a trial COMBINE 3 for IcoSema has been successfully completed, with results expected from two additional trials in the first half of 2024[93]. Market Share and Competitive Position - The diabetes value market share increased by 1.9 percentage points to 33.8%[12]. - Novo Nordisk's global diabetes market share improved to 33.8% from 31.9% over the past year[20]. - The estimated GLP-1 share of total diabetes prescriptions increased to 15.5% in the US compared to 10.7% 12 months ago[25]. - In North America, GLP-1 sales increased by 48% in Danish kroner and by 52% at CER, with a market share of 53.1%[25]. Sustainability and Social Responsibility - CO2 emissions from operations and transportation decreased by 34% compared to 2019 and by 8% compared to 2022[107]. - The Changing Diabetes in Children program has reached over 52,000 children by the end of 2023, representing a 27% increase compared to 2022, with a goal to reach 100,000 children by 2030[109]. - Novo Nordisk aims to achieve a balanced gender representation across all managerial levels and a minimum of 45% women and men in senior leadership positions by the end of 2025[110]. Future Outlook - For 2024, sales growth is expected to be between 18-26% at constant exchange rates, with operating profit growth projected at 21-29%[4]. - Capital expenditure for 2024 is anticipated to be around DKK 45 billion, aimed at expanding manufacturing facilities in Denmark and France[84]. - The company continues to focus on innovation and therapeutic advancements as part of its strategic aspirations[155].