Novo Nordisk A/s Class B · OMXCOP:NOVO_B
Novo Nordisk A/s Class B — H1 2022 Earnings Presentation
161 slides from Novo Nordisk A/s Class B's earnings presentation, August 2022
Slide 1: Novo Nordisk – a focused healthcare company
Novo Nordisk –a focused healthcare company Investor presentation First six months of 2022 Morten Kruse Jacobsen (to the right), Senior Director at Novo Nordisk and married to Anders. Being a sustainable employer is a key priority for Novo Nordisk. This includes fostering a diverse and inclusive work
Slide 2: Agenda
2 Investor presentation First six months of 2022 Novo Nordisk® Progress on Strategic Aspirations 2025 Agenda Agenda Commercial execution Innovation and therapeutic focus Financials
Slide 3: Forward-looking statements
3 Investor presentation First six months of 2022 Novo Nordisk® Forward-looking statements Novo Nordisk’s reports filed with or furnished to the US Securities and Exchange Commission (SEC), including the statutory Annual Report 2021 and Form 20-F, which both were filed with the SEC in February 2022 i
Slide 4: Strategic Aspirations 2025 | Highlights first six months of 2022
4 Investor presentation First six months of 2022 Novo Nordisk® Strategic Aspirations 2025 | Highlights first six months of 2022 Light blue indicates developments in Q2 2022 Further raise innovation bar for Diabetes treatment: Progress towards zero environmental impact: • Successful completion of fiv
Slide 5: Sales growth of 16% driven by both operating units
5 Investor presentation First six months of 2022 Novo Nordisk® Sales growth of 16% driven by both operating units Reported geographic sales split for first half of 2022 Reported therapy area sales and growth for first half of 2022 DKK Insulin GLP-1 Other diabetes DKK North America Operations Interna
Slide 6: Diabetes value market leadership increased by 1.5%-points to 31%
6 Investor presentation First six months of 2022 Novo Nordisk® Diabetes value market leadership increased by 1.5%-points to 31% Novo Nordisk global diabetes value market share Diabetes value market leadership expansion driven by the GLP-1 franchise 60% Diabetes GLP-1 Insulin Diabetes care sales grew
Slide 7: GLP-1 performance drives Diabetes care sales growth in International Operations
7 Investor presentation First six months of 2022 Novo Nordisk® GLP-1 performance drives Diabetes care sales growth in International Operations and Ozempic® is now the leading brand Reported Diabetes care sales and growth per IO geography GLP-1 patients and value market share in IO DKK Number of Valu
Slide 8: GLP-1 class expansion continues in the US
8 Investor presentation First six months of 2022 Novo Nordisk® GLP-1 class expansion continues in the US as new prescriptions have accelerated in the second quarter of 2022 US GLP-1 weekly NBRx prescriptions US GLP-1 TRx market share Weekly NBRx TRx share Total GLP-1 scripts (‘000) Class growth >35%
Slide 9: Obesity care sales grew by 84% in the first half of 2022
9 Investor presentation First six months of 2022 Novo Nordisk® Obesity care sales grew by 84% in the first half of 2022 driven by both the US and IO NN sales and market share Global Branded AOM TRx within Obesity care DKK TRx count (‘000s) billion 3%1 55%1 84%1 400 +63% 3.7 84% 90% The US 3.1 300 •
Slide 10: Rare disease sales were unchanged at constant exchange rates
10 Investor presentation First six months of 2022 Novo Nordisk® Rare disease sales were unchanged at constant exchange rates Reported Rare disease sales Rare disease sales driven by global commercial execution DKK billion Growth at CER 12 0% 3% 1% 6% 3% -5% Rare disease sales remain unchanged, drive
Slide 11: Once-weekly insulin Icodec demonstrated superior HbA1c reduction in ONWARDS 1-3
11 Investor presentation First six months of 2022 Novo Nordisk® Once-weekly insulin Icodec demonstrated superior HbA1c reduction in people with type 2 diabetes in ONWARDS 1-3 trials ONWARDS 1 2 3 4 5 6 Basal initiation Basal switch Basal initiation Basal/Bolus Basal initiation Basal/Bolus Duration 5
Slide 12: ONWARDS achieved primary endpoint of HbA1c non-inferiority
12 Investor presentation First six months of 2022 Novo Nordisk® ONWARDS 4 achieved primary endpoint of HbA1c non-inferiority with no statistically significant difference in hypoglycaemic events Change in HbA1c from baseline over time 26 weeks Overall hypoglycaemic episodes in the trial Time since ra
Slide 13: SELECT cardiovascular outcomes trial continues after interim analysis
13 Investor presentation First six months of 2022 Novo Nordisk® Following an interim analysis, the SELECT cardiovascular outcomes trial continues in accordance with the trial protocol Objective SELECT trial with 17,500 people with obesity Demonstrate that semaglutide 2.4 mg lowers the incidence of M
Slide 14: R&D milestones for 2022
14 Investor presentation First six months of 2022 Novo Nordisk® R&D milestones for 2022 Clinical milestones1 Regulatory milestones1 Project Q2 2022 Q3 2022 Q4 2022 Diabetes care FDC Sema – OW GIP Phase 1 results CagriSema T2DM Phase 2 results Rybelsus® CN submission Icodec Phase 3a results Higher do
Slide 15: Financial results – First six months of 2022
15 Investor presentation First six months of 2022 Novo Nordisk® Financial results – First six months of 2022 First six First six Change Change In DKK million months of 2022 months of 2021 (reported) (CER) Sales 83,296 66,845 25% 16% Gross profit 70,310 55,487 27% 17% Gross margin 84.4% 83.0% Sales a
Slide 16: Attractive capital allocation to shareholders
16 Investor presentation First six months of 2022 Novo Nordisk® Attractive capital allocation to shareholders Annual cash return to shareholders Capital allocation DKK billion 50 • Return of free cash flow through both share buy-backs and dividends 40 • For 2021, the total dividend per share increas
Slide 17: Financial outlook for 2022
17 Investor presentation First six months of 2022 Novo Nordisk® Financial outlook for 2022 Expectations Expectations 3 August 2022 29 April 2022 Sales growth – at CER 12% to 16% 10% to 14% Sales growth - reported Around 9 percentage points higher Around 7 percentage points higher Operating profit gr
Slide 18: Strategic aspirations 2025
18 Investor presentation First six months of 2022 Novo Nordisk® Strategic aspirations 2025 • Further raise the innovation-bar for diabetes treatment therapeutic focus • Progress towards zero environmental impact • Develop a leading portfolio of superior treatment Innovation and solutions for obesity
Slide 19: Investor contact information
19 Investor presentation First six months of 2022 Novo Nordisk® Investor contact information Share information Investor Relations contacts Novo Nordisk’s B shares are listed on the stock exchange in Novo Nordisk A/S Copenhagen under the symbol ‘NOVO B’. Its ADRs are listed on the Investor Relations
Slide 20: Appendix
20 Investor presentation First six months of 2022 Novo Nordisk® Novo Nordisk corporate strategy 21 Diabetes care 32 GLP-1 42 Insulin 49 Appendix Obesity care 57 Rare disease 75 Other serious chronic diseases 86 Regional information 104 Financials 138 Sustainability 147
Slide 21: Novo Nordisk Corporate Strategy
21 Investor presentation First six months of 2022 Novo Nordisk® Novo Nordisk Corporate Strategy Rare disease
Slide 22: Large unmet needs across all therapy areas in scope
22 Investor presentation First six months of 2022 Novo Nordisk® Novo Nordisk’s opportunity is in the large unmet needs across all therapy areas in scope Diabetes care Obesity care 537m people with ~15% >764m people with ~2% of people in of people in medically diabetes1 good control2 obesity3 treated
Slide 23: Leading positions in diabetes, obesity and haemophilia
23 Investor presentation First six months of 2022 Novo Nordisk® Novo Nordisk has leading positions in diabetes, obesity and haemophilia Diabetes care Obesity care Haemophilia DKK DKK DKK billion billion billion #1 100 #3 50% 1000 #1 50% 24 80% 20 80 40% 800 40% 16 60% 60 30% 600 30% 12 40% 40 20% 40
Slide 24: Sales growth of 16%, driven by the GLP-1 portfolio
24 Investor presentation First six months of 2022 Novo Nordisk® Sales growth of 16%, driven by the GLP-1 portfolio for diabetes and obesity treatment Novo Nordisk reported quarterly sales Reported sales for the first six Reported sales and growth breakdown for DKK by therapy months of 2022 the first
Slide 25: Sales growth of 16%, driven by both NAO and IO
25 Investor presentation First six months of 2022 Novo Nordisk® Sales growth of 16%, driven by both NAO and IO with 24% and 10% sales growth respectively Historic and reported sales by geography Reported sales and growth breakdown DKK for the first six months of 2022 billion Sales Share of Regions G
Slide 26: Solid patent protection, high barriers to entry, and collaborative approach
26 Investor presentation First six months of 2022 Novo Nordisk® Novo Nordisk holds solid patent protection, high barriers to entry, and a collaborative approach to innovation Novo Nordisk’s position is protected Barriers to entry for biosimilar players Partnerships and acquisitions support by patent
Slide 27: Core capabilities provide a competitive advantage
27 Investor presentation First six months of 2022 Novo Nordisk® Novo Nordisk’s core capabilities provide a competitive advantage to continue to defeat diabetes Engineering, formulating, Efficient large-scale Global commercial reach and Deep disease developing and delivering production of proteins le
Slide 28: Core capabilities and technology platforms across therapy areas
28 Investor presentation First six months of 2022 Novo Nordisk® Core capabilities and additional technology platforms open up new opportunities across therapy areas Technology platforms Proteins / Peptides Oligonucleotides / RNAi Stem cells Genome editing / Gene therapy Diabetes care Obesity care CV
Slide 29: Human data-driven decision-making with faster timelines
29 Investor presentation First six months of 2022 Novo Nordisk® Human data-driven decision-making with faster timelines to enable a robust development pipeline Speed up time to reach FHD and increase number of phase 1 assets Future Research & early development trends for Novo Nordisk ILLUSTRATIVE •
Slide 30: Pipeline supports growth across all four strategic focus areas
30 Investor presentation First six months of 2022 Novo Nordisk® Pipeline supports significant growth opportunities across all four strategic focus areas PHASE 1 PHASE 2 PHASE 3 SUBMITTED APPROVED NN1147 – Insulin 147 and PCSK9i NN9388 – Cagrisema NN1535 – Icosema NN8640 – Sogroya® – QW GHD2 Tresiba®
Slide 31: Global manufacturing setup
31 Investor presentation First six months of 2022 Novo Nordisk® Novo Nordisk has a global manufacturing setup Local production All products API, fill, tablet and pack Russia API, fill, tablet and pack Fill and pack Japan Iran Algeria Fill and pack Fill and pack Product Supply value chain Research an
Slide 32: Diabetes care
32 Investor presentation First six months of 2022 Diabetes care Disease and market 33 GLP-1 segment 42 Insulin segment 49 SIMONE LENSBØLE Simone lives with type 2 diabetes Denmark
Slide 33: Diabetes – the inability to manage blood sugar levels
33 Investor presentation First six months of 2022 Novo Nordisk® Diabetes – the inability to manage blood sugar levels appropriately Facts about diabetes Insulin action profiles Diabetes is a chronic disease that occurs either when the pancreas does not produce enough insulin or when the body cannot
Slide 34: GLP-1s have positive effects beyond glycaemic control
34 Investor presentation First six months of 2022 Novo Nordisk® GLP-1s have positive effects beyond glycaemic control and treatment guidelines now reflect the CV risk benefits Medications for treatment of type 2 diabetes ADA/EASD diabetes treatment guidelines for second-line treatment with establish
Slide 35: Diabetic population expected to increase to 784 million by 2045
35 Investor presentation First six months of 2022 Novo Nordisk® People with diabetes have increased mortality risk, and the diabetic population is expected to increase to 784 million by 2045 Diabetes is associated with shorter life expectancy The number of people with diabetes is expected to and low
Slide 36: Diabetes care unmet needs remain large
36 Investor presentation First six months of 2022 Novo Nordisk® Diabetes care unmet needs remain large with too few patients reaching target and treated for complications 1 in 2 adults go undiagnosed and more treated patients Of the 537 million, 34.6 million1 people are currently treated with should
Slide 37: Diabetes requires treatment intensification over time
37 Investor presentation First six months of 2022 Novo Nordisk® Diabetes is a chronic disease requiring treatment intensification over time Distribution of patients and value across treatment classes Diet and exercise 4% OAD 14% -cell function 45% GLP-1 19% 2% 10% 28% Insulin 9% 8% 34% 28% Time Pat
Slide 38: GLP-1 and SGLT-2i driving value growth of diabetes market
38 Investor presentation First six months of 2022 Novo Nordisk® GLP-1 and SGLT-2i have been driving the value growth of the global diabetes care market Estimated global number of patients Estimated global diabetes value market Diabetes market dynamics • Innovation focused on oral GLP-1 CAGR: +4% CAG
Slide 39: Continued innovation supported by digital solutions
39 Investor presentation First six months of 2022 Novo Nordisk® Better outcomes and broader reach can be accomplished through continued innovation, supported by digital solutions Novo Nordisk’s product portfolio follows the patient treatment journey • Innovation focused on oral GLP-1 Portfolio and p
Slide 40: Branded diabetes market global value of DKK ~310 billion
40 Investor presentation First six months of 2022 Novo Nordisk® The total branded diabetes market has a global value of DKK ~310 billion annually DKK Global diabetes market DKK The USA +7% billion billion 400 150 143 139 2021 2020 Growth at CER +10% -10% +24% 100 313 69 58 -9% +14% 293 50 41 48 300
Slide 41: Leadership position within the growing diabetes market
41 Investor presentation First six months of 2022 Novo Nordisk® Novo Nordisk has a leadership position within the growing diabetes market Global diabetes market by treatment class1 Novo Nordisk remains global diabetes value Novo Nordisk market share and share of market leader growth DKK billion 35%
Slide 42: GLP-1 effect dependent on blood glucose level
42 Investor presentation First six months of 2022 Novo Nordisk® GLP-1 effect dependent on blood glucose level GLP-1 mechanism of action when blood Semaglutide holds a plethora of therapeutic opportunities1 sugar levels increase Diabetes FOCUS - Diabetic retinopathy outcomes trial Creates sense of sa
Slide 43: Novo Nordisk has 55% of the global GLP-1 market
43 Investor presentation First six months of 2022 Novo Nordisk® Novo Nordisk has 55% of the global GLP-1 market, while GLP-1 penetration of diabetes volume varies across regions GLP-1 market growth and Novo Nordisk market share >6 million people, 4% of diabetes prescriptions, use a GLP-1 with large
Slide 44: Ozempic launch has helped drive the changing treatment paradigm in the US
44 Investor presentation First six months of 2022 Novo Nordisk® Ozempic® launch has helped drive the changing treatment paradigm in the US 15% intensify with non-generic treatment Ozempic® launch increases the use of GLP-1 More than 60% of patients choose Novo within 18 months of starting metformin
Slide 45: SUSTAIN trials with subcutaneous semaglutide
45 Investor presentation First six months of 2022 Novo Nordisk® SUSTAIN trials with subcutaneous semaglutide SUSTAIN 1 2 3 4 5 6 7 8.1% 8.1% 8.3% 8.2% 8.4% 8.7% 8.2% Baseline -0.1 -0.4 -0.5 Change in HbA1c (%) -0.8 -0.9 -1.1 * -1.1 * -1.2 * * -1.3 * * -1.3 * * -1.4 -1.4 * * * -1.5 -1.5 * -1.8 -1.8 -
Slide 46: PIONEER programme with oral semaglutide
46 Investor presentation First six months of 2022 Novo Nordisk® PIONEER programme with oral semaglutide PIONEER 1 2 3 4 5 7 8 8.0% 8.1% 8.3% 8.0% 8.0% 8.3% 8.2% Baseline -0.1 -0.1 -0.1 * Change in -0.5 -0.6 -0.7 HbA1c (%) -0.8 * -0.8 * -1.0 * -0.9 -1.1 -1.1 * -1.1 -1.3 * * -1.4 * -1.4 * -1.3 * * -1.
Slide 47: Semaglutide 2.0 mg s.c. and high dose oral sema
47 Investor presentation First six months of 2022 Novo Nordisk® Semaglutide 2.0 mg s.c. and high dose oral sema hold potential to bring patients needing treatment intensification to target Phase 3 trial, SUSTAIN FORTE, completed and label application Phase 3 trial with oral semaglutide 25 mg and 50
Slide 48: Two fixed dose combinations entered phase 2
48 Investor presentation First six months of 2022 Novo Nordisk® Two fixed dose combinations entered phase 2 in the second half of 2021 in people with type 2 diabetes Phase 2 trial design for cagrilintide in combination with Phase 2 trial design for semaglutide in combination with GIP semaglutide inv
Slide 49: Global insulin market leadership at 47.1%
49 Investor presentation First six months of 2022 Novo Nordisk® Novo Nordisk global insulin market leadership at 47.1% and the global insulin volume market grew by 1.1% North America Operations Global International Operations Market growth: 1.1% Market growth: 2.0% Market growth: -1.3% MS 47.1% MS:
Slide 50: Insulin market size and volume share
50 Investor presentation First six months of 2022 Novo Nordisk® Insulin market size and volume share of growth and market share Insulin market share and market size (DKK billion) Market Δ Market Insulin volume: market growth and growth share market share Total 44% 268 3.8% +0.2% 50% 47% 8% 40% Long-
Slide 51: Icodec improved PPG control and HbA1c in phase 2
51 Investor presentation First six months of 2022 Novo Nordisk® Icodec, a once-weekly insulin, improved PPG control, HbA1c, and increased the number of patients reaching target in a phase 2 trial Icodec showed statistically significant Numerical improvement in HbA1c The proportion of patients on Ico
Slide 52: Insulin icodec, a once-weekly basal insulin
52 Investor presentation First six months of 2022 Novo Nordisk® Insulin icodec, a basal insulin intended for once-weekly treatment, may reduce the disease burden for patients Bringing the strongest value Insulin icodec phase 3 programme expected to complete during 2022 proposition to market Reductio
Slide 53: ONWARDS superior HbA1c reduction vs insulin glargine U100
53 Investor presentation First six months of 2022 Novo Nordisk® ONWARDS 1 met its primary endpoint and demonstrated superior HbA1c reduction compared to insulin glargine U100 Superior change in HbA1c from baseline over time 52 weeks Inclusion criteria Time since randomisation (weeks) • T2D treated w
Slide 54: ONWARDS superiority on HbA1c vs insulin degludec
54 Investor presentation First six months of 2022 Novo Nordisk® ONWARDS 2 met its primary endpoint and demonstrated superiority on HbA1c reduction compared to insulin degludec Superior change in HbA1c from baseline over time 26 weeks Inclusion criteria: Time since randomisation (weeks) • T2D treated
Slide 55: ONWARDS non-inferiority vs insulin degludec
55 Investor presentation First six months of 2022 Novo Nordisk® ONWARDS 6 met its primary endpoint of demonstrating non- inferiority in reducing HbA1c compared to insulin degludec Non-inferior change in HbA1c from baseline over 26 weeks Inclusion criteria Time since randomisation (weeks) • T1D treat
Slide 56: Phase 3 programme COMBINE initiated with IcoSema
56 Investor presentation First six months of 2022 Novo Nordisk® Phase 3 trial programme, COMBINE, has been initiated with IcoSema IcoSema characteristics Focused phase 3 trial programme COMBINE 1 • Expected initiation in Q2 2022 Post-basal insulin • 1290 patients* previously on basal-insulin IcoSema
Slide 57: Obesity care
57 Investor presentation First six months of 2022 Obesity care Obesity disease background 58 Obesity market development 62 Innovation 63 MICHAEL PETERSEN Michael lives with obesity Denmark
Slide 58: More than 764 million people living with obesity
58 Investor presentation First six months of 2022 Novo Nordisk® More than 764 million people are living with obesity, yet the narrative is changing Obesity is a global epidemic Obesity impacts both the individual and The obesity narrative is changing affecting more than 764 million people1 society a
Slide 59: Patient-centric strategy to activate more people with obesity
59 Investor presentation First six months of 2022 Novo Nordisk® Patient-centric strategy designed to activate more people with obesity, drive HCP engagement, and improve market access Million people >764 million people live with obesity 800 ~10% seek help ~2% are treated with an AOM ~2.5 million see
Slide 60: Large opportunity for activating more people with obesity
60 Investor presentation First six months of 2022 Novo Nordisk® Large opportunity for activating more people with obesity to seek treatment and increasing the number of prescribers Wegovy® patient characteristics in the US 75% 81% 38.8 38% of patients new to anti- of patients are female Average BMI
Slide 61: Patient access to AOM is improving
61 Investor presentation First six months of 2022 Novo Nordisk® Patient access to AOM is improving with around 80% commercial formulary access in the US and 15 countries in IO Wegovy® Patient Access Pathway in NAO Restricted reimbursement for Saxenda® is progressing People with obesity1 EXAMPLES BMI
Slide 62: Global obesity market growth accelerating
62 Investor presentation First six months of 2022 Novo Nordisk® Global obesity market growth has been accelerating with Novo Nordisk capturing the majority of growth Obesity market growth and Novo Nordisk value market share Obesity market size and growth DKK billion 84% ~111% 80% 180% 20.0 155% 0.3
Slide 63: STEP 1, 3, and 4 weight loss results
63 Investor presentation First six months of 2022 Novo Nordisk® Across the STEP 1, 3, and 4 trials, a weight loss of 16.9% to 18.2% was reported for people treated with semaglutide 2.4 mg STEP 1 STEP 3 STEP 4 STEP 5 STEP 2 STEP 8 Weight Weight mgmt. Sustained weight management Weight loss over 2 Wei
Slide 64: STEP 1 weight loss of up to 16.9%
64 Investor presentation First six months of 2022 Novo Nordisk® In STEP 1, people treated with semaglutide had a superior weight loss of up to 16.9% The pivotal STEP 1 trial showed greater than 16% weight loss Data from STEP 1 % change in body weight 0 • Average age 46 -2 Placebo: -2.4% • 74.1% wome
Slide 65: STEP 1 patients reaching ≥20% weight loss
65 Investor presentation First six months of 2022 Novo Nordisk® In STEP 1, 34.8% of patients treated with sema reached ≥20% weight loss and reported improved quality of life versus placebo Categorical weight loss Sema 2.4 mg showed a statistically significant treatment difference versus placebo in t
Slide 66: STEP 4 weight loss of up to 18.2%
66 Investor presentation First six months of 2022 Novo Nordisk® In STEP 4, people treated with semaglutide had a superior weight loss of up to 18.2% STEP 4 showed significantly greater weight loss post run-in than placebo Data from STEP 4 % change in body weight Randomisation 0 • Average age 46 -2 •
Slide 67: STEP 4 patients reaching ≥20% weight loss
67 Investor presentation First six months of 2022 Novo Nordisk® In STEP 4, 41.2% of patients treated with semaglutide reached ≥20% weight loss and reported improved quality of life vs placebo Categorical weight loss Sema 2.4 mg showed a statistically significant treatment difference versus placebo i
Slide 68: STEP 5 sustained weight loss over 2 years
68 Investor presentation First six months of 2022 Novo Nordisk® In STEP 5, people treated with semaglutide 2.4 mg sustained their weight loss over 2 years Clinically relevant and sustained weight loss in patients Data from STEP 5 with obesity or overweight % change in body weight Placebo: -0.6% 40%
Slide 69: STEP 8 semaglutide 2.4 mg vs liraglutide 3.0 mg
69 Investor presentation First six months of 2022 Novo Nordisk® In STEP 8, semaglutide 2.4 mg showed weight loss of 17.1% compared to 6.6% with liraglutide 3.0 mg STEP 8 observed mean change in body weight1 Statistically significant weight loss with sema 2.4 mg vs lira 3.0 mg Mean baseline body weig
Slide 70: Phase 3a trial of oral semaglutide 50 mg in obesity
70 Investor presentation First six months of 2022 Novo Nordisk® Global phase 3a trial investigating oral semaglutide 50 mg in obesity initiated in Q3 2021 and expected to complete in H1 2023 Global trial planned was started in H2 2021 Plan to include 660 patients with obesity Objective To investigat
Slide 71: CagriSema 20-week phase 1 weight loss
71 Investor presentation First six months of 2022 Novo Nordisk® In a 20-week phase 1 trial, CagriSema showed weight loss of 17% and appeared to have a safe and well tolerated profile Weight loss for different doses of CagriSema in phase 1 The GI profile appeared similar to semaglutide 2.4 monotherap
Slide 72: CagriSema phase 3 programme REDEFINE
72 Investor presentation First six months of 2022 Novo Nordisk® The CagriSema phase 3 programme, REDEFINE, is expected to begin in the fourth quarter of 2022 REDEFINE 1 trial design REDEFINE 2 trial design CagriSema 2.4 mg/2.4 mg1 Cagrilintide 2.4 mg1 CagriSema 2.4 mg/2.4 mg1 N = 2500 N=800 Semaglut
Slide 73: SELECT trial addresses comorbidities improved with weight management
73 Investor presentation First six months of 2022 Novo Nordisk® The cardiovascular trial, SELECT, addresses many comorbidities that can be improved with weight management Improvements per weight loss bracket Weight loss (%) 30 >15% 20 10-15% 5-10% 10 0-5% 0 Hypertension X Dislipidaemia X Kidney dise
Slide 74: Oral amycretin entering phase 1
74 Investor presentation First six months of 2022 Novo Nordisk® Protein and peptide expertise combined with oral technology enables oral amycretin entering phase 1 Amycretin is a GLP-1 and amylin receptor Phase 1 single dose and multiple dose trial for co-agonist intended for oral delivery oral amyc
Slide 75: Rare disease
75 Investor presentation First six months of 2022 Rare disease Rare disease background 76 Rare disease innovation 79 SIERRA CLARK Sierra lives with Glanzmann-Thrombasthenia Canada
Slide 76: Building on a 40-year legacy in Rare disease
76 Investor presentation First six months of 2022 Novo Nordisk® Building upon a 40-year legacy to capture the Rare disease strategic opportunity A strategy anchored in Rare blood and endocrine disorders Three strategic horizons towards 2030 Hemato-renal Lysosomal storage disorders Today Long-term Ha
Slide 77: Rare disease sales driven by commercial execution
77 Investor presentation First six months of 2022 Novo Nordisk® Rare disease sales remains unchanged, driven by commercial execution and key brands Esperoct® and Refixia® NovoSeven® and Norditropin® Rare disease franchise is back to growth DKK account for ~75% of Rare disease sales DKK billion billi
Slide 78: Haemophilia unmet needs and competitive market
78 Investor presentation First six months of 2022 Novo Nordisk® Haemophilia is a rare disease with severe unmet medical needs and the market is highly competitive Recombinant haemophilia product sales DKK billion 50 +7% 40 30 -2% 20 +9% 10 0 2017 2021 2017 2021 2017 2021 Haemophilia with inhibitors
Slide 79: Explorer 7 trial of concizumab
79 Investor presentation First six months of 2022 Novo Nordisk® Explorer 7 trial evaluated safety and efficacy of concizumab in 132 haemophilia A and B patients with inhibitors Concizumab binds TFPI, enabling Explorer 7 trial design thrombin generation and clot formation Concizumab 1) Maintained OnD
Slide 80: Concizumab reduced bleeds in patients with inhibitors
80 Investor presentation First six months of 2022 Novo Nordisk® In the Explorer 7 trial, concizumab reduced the number of bleeds in adults and adolescents with inhibitors Explorer 7 trial results: Annualised bleeding rate per patient group Key highlights Efficacy 100 Median Mean • Median ABR was 0 f
Slide 81: Mim8 phase 1/2 interim PK/PD data
81 Investor presentation First six months of 2022 Novo Nordisk® Interim data from Mim8 phase 1/2 show that PK/PD profiles support weekly to monthly low volume dosing Mim8 pharmacokinetic properties support Higher potency of Mim8 vs emicizumab weekly and monthly dosing enabling a low dosing volume 30
Slide 82: Mim8 safety and exploratory efficacy
82 Investor presentation First six months of 2022 Novo Nordisk® In the phase 1/2 trial, Mim8 appeared to have a well tolerated safety profile and read out with exploratory efficacy Low number of patients with treated bleeds after cohort 1 Mim8 safety characteristics Adverse events 10 Patients with b
Slide 83: Norditropin market leader; Sogroya opportunity
83 Investor presentation First six months of 2022 Novo Nordisk® While Norditropin® is the market leader within GHD market, Sogroya® represents an opportunity for patients Novo Nordisk leadership in competitive hGH market A portfolio offering across markets DKK Value billion MS% Sogroya® launches 20
Slide 84: Sogroya phase 3 trial completed
84 Investor presentation First six months of 2022 Novo Nordisk® Sogroya® phase 3 trial successfully completed with aspirational target product profile achieved Phase 3a trial results in children with GHD Key highlights Efficacy ETD (95% CI) = -0.5 (-1.1 ; 0.2) • Non-inferiority versus Norditropin® f
Slide 85: Partnership with 2seventy bio in genome editing
85 Investor presentation First six months of 2022 Novo Nordisk® Novo Nordisk and 2seventy bio extend partnership in next- generation genome editing for people with haemophilia A Lifelong correction via a unique modality Mode of action Potentially lifelong correction of FVIII deficiency Normal Double
Slide 86: Other serious chronic diseases
86 Investor presentation First six months of 2022 Other serious chronic diseases The unmet needs 87 Cardiovascular disease 88 Non-alcoholic steatohepatitis 91 Alzheimer’s disease 98 Stem cells 101
Slide 87: Expanding into other serious chronic diseases
87 Investor presentation First six months of 2022 Novo Nordisk® Novo Nordisk is expanding into other serious chronic diseases Serious chronic diseases are often associated with diabetes and obesity New therapeutic areas represent patient populations with high unmet medical needs Estimated patients A
Slide 88: Patient overlaps guide focused approach in CVD
88 Investor presentation First six months of 2022 Novo Nordisk® Large patient overlaps between diabetes, obesity, and CVD have guided the focused approach in CVD Population overlap between T2D, obesity and CVD Focused approach in CVD Atherosclerosis Heart failure ASCVD + HF High Inflammation- Heart
Slide 89: Late-stage CVD pipeline
89 Investor presentation First six months of 2022 Novo Nordisk® Innovative late-stage CVD pipeline provides opportunities to make a difference for many patients Focus areas Examples of unmet needs in CVD pipeline Near-term Category Broader indications Stand-alone CVD Leverage broader CV indications
Slide 90: Ziltivekimab phase 2b RESCUE trial completed
90 Investor presentation First six months of 2022 Novo Nordisk® Ziltivekimab phase 2b RESCUE trial was successfully completed In the RESCUE trial, zilti QM showed reduction in hsCRP at all dose levels placebo ziltivekimab 7.5 mg ziltivekimab 15 mg ziltivikemab 30 mg •ZiltiIn QM the RESCUE showed red
Slide 91: NASH is a progressive disease with no existing treatment
91 Investor presentation First six months of 2022 Novo Nordisk® NASH is a progressive disease with no existing treatment and low diagnosis rates today NASH-Cirrhosis F4 NASH F3 NASH F3 NASH NASHF2 F2 NASH F1 NASH F1 Dead cell Inflamed/dying remnants hepatocyte Scar Inflamed/dying Excessive collagen
Slide 92: ZEUS trial with ziltivekimab
92 Investor presentation First six months of 2022 Novo Nordisk® ZEUS trial with ziltivekimab aims to validate the link between hsCRP and major adverse cardiovascular events Phase 3 CVOT trial ZEUS with ziltivekimab Objective Investigate CV benefit in 6,200 patients • To investigate the cardiovascula
Slide 93: Ziltivekimab unmet need in more than 5 million people
93 Investor presentation First six months of 2022 Novo Nordisk® Ziltivekimab aspires to address an unmet need in more than 5 million people Ziltivekimab aspires to reduce MACE in Sub-header Critical (can be success factors to commercialise removed) ziltivekimab Sub-header (can be removed) people wit
Slide 94: NASH patient journey and key barriers
94 Investor presentation First six months of 2022 Novo Nordisk® NASH patient journey underscores key barriers to overcome for Novo Nordisk to be successful ~22 million people are expected Hurdles to live with NASH F2-F4c by 2030 25 Low disease No Inadequate patient No treatment prognostic awareness
Slide 95: Supporting non-invasive tests for NASH diagnosis
95 Investor presentation First six months of 2022 Novo Nordisk® Novo Nordisk is supporting use of non-invasive tests for NASH diagnosis Development and adoption of non-invasive tests (NITs) Novo Nordisk activities supporting non-invasive tests in NASH diagnosis Real world • Linking biomarkers and li
Slide 96: Semaglutide phase 2 NASH resolution
96 Investor presentation First six months of 2022 Novo Nordisk® In phase 2, semaglutide showed significant improvements in NASH resolution Semaglutide showed resolution of NASH with no worsening of Semaglutide showed numerical improvements in fibrosis and fewer fibrosis versus placebo in the phase 2
Slide 97: Phase 3a ESSENCE trial in NASH
97 Investor presentation First six months of 2022 Novo Nordisk® Phase 3a trial ESSENCE with semaglutide 2.4 mg for the treatment of NASH was initiated in Q1 2021 The phase 3a ESSENCE trial in NASH ESSENCE trial | NASH F2–F3 patients Primary objectives and endpoints for Part 1 and 2 N = 1,200 Part 1
Slide 98: AD patient journey and barriers
98 Investor presentation First six months of 2022 Novo Nordisk® AD patient journey is complex and underscores key barriers to overcome for Novo Nordisk to be successful Significant and growing Hurdles unmet need Million 80 Early symptoms Complex tests and Lack of prognostic No DMT dismissed as norma
Slide 99: Data points supporting semaglutide in Alzheimer's disease
99 Investor presentation First six months of 2022 Novo Nordisk® Entering phase 3 development of semaglutide in Alzheimer’s disease was based on a number of data points Real world evidence trials Randomised controlled trials Pre-clinical studies Four RWE studies show reduced risk of 53% lower risk of
Slide 100: Evoke and evoke+ trials ongoing
100 Investor presentation First six months of 2022 Novo Nordisk® Evoke and evoke+ trials are ongoing with expected completion in 2025 evoke and evoke+ trials have been initiated with 1,840 patients in each trial with a total of 3,680 patients 3 mg 7 mg 14 mg oral semaglutide QD 14 mg oral semaglutid
Slide 101: Potential for cell therapies
101 Investor presentation First six months of 2022 Novo Nordisk® There is broad potential for cell therapies and Novo Nordisk has capabilities to explore the potential Broad potential for clinical use of cell therapies Maturing the platform to enable development of competitive cell therapies Parkins
Slide 102: Cell therapy collaboration with Heartseed and others
102 Investor presentation First six months of 2022 Novo Nordisk® Potential first human dose with cell therapy in collaboration with Heartseed and others Utilise internal capabilities and disease understanding Accelerate innovation through partnerships for stem cell development Internal capabilities
Slide 103: Cell therapy trials in heart failure and Parkinson's disease
103 Investor presentation First six months of 2022 Novo Nordisk® First efforts to combine Novo Nordisk and partner competencies in cell therapies start with heart failure and Parkinson’s disease TRANSCEND 1 and 2 trials to evaluate stem cells impact on Heartseed: Phase 1/2 trial in patients with sev
Slide 104: International Operations
104 104 Investor presentation First six months of 2022 International Operations IO at a glance 107 EMEA 112 Region China 117 Rest of World 122
Slide 105: Growth momentum driven by demographics and full product portfolio
105 Investor presentation First six months of 2022 Novo Nordisk® Growth momentum has increased driven by demographics and utilisation of full product portfolio International Operations is diverse and Historic growth has been in the Growth momentum has benefitted from covers 190 markets range of 4-8%
Slide 106: IO committed to 6-10% growth aspiration
106 Investor presentation First six months of 2022 Novo Nordisk® IO remains committed to its strategic aspiration of 6-10% growth driven by securing the base and three future growth enablers Growing double digits every year since 2019 Driving market growth via a market-fit approach ILLUSTRATIVE 6-10
Slide 107: International Operations at a glance
107 Investor presentation First six months of 2022 Novo Nordisk® International Operations at a glance Diabetes trend Diabetes market by value and Novo Novo Nordisk reported sales Million DKK Nordisk market share Sales 19% billion First half of 2022 Growth2 (mDKK) 250 80% Total GLP-13 12,013 53% 17%
Slide 108: Diabetes market share and growth in International Operations
108 Investor presentation First six months of 2022 Novo Nordisk® Diabetes market share and market growth in International Operations Diabetes market growth and Novo Nordisk market share Diabetes market size and growth DKK billion ~13% 160% 25% 9 200 9 5 22% 177 140% 20% 120% 100% 15% 13% 80% 60% 10%
Slide 109: GLP-1 market share and market growth
109 Investor presentation First six months of 2022 Novo Nordisk® GLP-1 market share and market growth GLP-1 market growth and Novo Nordisk market share GLP-1 market size and growth DKK ~47% billion 3 0 31 80% 80% 73% 7 61% 60% 60% 21 60% 40% 47% 40% ~60% 61% 20% 20% 56% 60% 55% 0% 0% May May May Nov
Slide 110: Insulin market in International Operations
110 Investor presentation First six months of 2022 Novo Nordisk® Insulin market size and volume share of growth and market share in International Operations Insulin market share and market size (DKK billion) Market Δ Market Insulin volume: Share of growth and growth share market share 6.0% +1.2% 80%
Slide 111: Obesity market in International Operations
111 Investor presentation First six months of 2022 Novo Nordisk® Obesity market share and market growth in International Operations Obesity market growth and Novo Nordisk market share Obesity market size and growth DKK billion ~35% 0.2 4.7 75% 75% 64% 1.1 0.8 58% 3.5 55% 45% 35% 35% 15% ~64% 58% 54%
Slide 112: EMEA at a glance
EMEA 112 Investor presentation First six months of 2022 Novo Nordisk® EMEA at a glance Diabetes trend Diabetes market by value and Novo Novo Nordisk reported sales Nordisk market share Million DKK Sales billion First half of 2022 Growth2 300 (mDKK) 25% Total GLP-13 6,815 35% 250 100 80% 19% Long-act
Slide 113: Diabetes market share and growth in EMEA
EMEA 113 Investor presentation First six months of 2022 Novo Nordisk® Diabetes market share and market growth in EMEA Diabetes market growth and Novo Nordisk market share Diabetes market size and growth DKK 75% 20% billion ~14% 18% 5 106 5 3 93 14% 15% 50% 36% 10% 29% 25% 5% 28% 28% ~18% 29% 29% 0%
Slide 114: GLP-1 market share and growth in EMEA
EMEA 114 Investor presentation First six months of 2022 Novo Nordisk® GLP-1 market share and market growth in EMEA GLP-1 market growth and Novo Nordisk market share GLP-1 market size and growth DKK ~39% 80% 80% billion 2 21 66% 4 0 59% 60% 60% 15 45% 39% 40% 40% ~45% 59% 20% 20% 56% 57% 0% 0% May Ma
Slide 115: Insulin market in EMEA
EMEA 115 Investor presentation First six months of 2022 Novo Nordisk® Insulin market size and volume market share in EMEA Insulin market share and market size (DKK billion) Market Δ Market Insulin volume: market share growth share 60% 10% Total 48% 49% 37 2.9% +0.8% 48% 7% Long- 40% 19 4.4% +1.6% 40
Slide 116: Obesity market in EMEA
EMEA 116 Investor presentation First six months of 2022 Novo Nordisk® Obesity market share and market growth in EMEA Obesity market growth and Novo Nordisk market share Obesity market size and growth DKK billion ~67% 100% 95% 100% 1.8 0.0 80% 79% 80% 0.5 0.7 67% 1.1 60% 60% ~95% 40% 40% 79% 75% 66%
Slide 117: Region China at a glance
Region China 117 Investor presentation First six months of 2022 Novo Nordisk® Region China at a glance Diabetes trend Diabetes market by value and Novo Novo Nordisk reported sales Nordisk market share Million DKK Sales First half of 2022 Growth2 billion (mDKK) 200 30 100% 6% Total GLP-13 1,672 83% 1
Slide 118: Diabetes market in Region China
Region China 118 Investor presentation First six months of 2022 Novo Nordisk® Diabetes market share and market growth in Region China Diabetes market growth and Novo Nordisk market share Diabetes market size and growth DKK ~16% billion 60% 2 28 1 1 24 60% 40% 40% 33% 17% 20% 20% 16% ~17% 32% 33% 33%
Slide 119: GLP-1 market in Region China
Region China 119 Investor presentation First six months of 2022 Novo Nordisk® GLP-1 market share and market growth in Region China GLP-1 market growth and Novo Nordisk market share GLP-1 market size and growth DKK 160% 160% billion ~119% 0 2 119% 1 120% 120% 1 80% 80% 63% 1 63% ~63% 40% 40% 67% 63%
Slide 120: Insulin market in Region China
Region China 120 Investor presentation First six months of 2022 Novo Nordisk® Insulin market size and volume share of growth and market share in Region China Insulin market share and market size (DKK billion) Market Δ Market Insulin volume: market share growth share 80% 50% Total 50% 15 14.7% +1.9%
Slide 121: Region China remains a key strategic opportunity
Region China 121 Investor presentation First six months of 2022 Novo Nordisk® Region China remains a key strategic opportunity Region China is a large market with Outcome of VBP insulin in China Opportunities and strategic priorities ~140 million people living with diabetes Large growing diabetes ma
Slide 122: Rest of World at a glance
Rest of World 122 Investor presentation First six months of 2022 Novo Nordisk® Rest of World at a glance Diabetes trend Diabetes market by value and Novo Nordisk reported sales Million DKK Novo Nordisk market share Sales First half of 2022 Growth2 21% billion (mDKK) 300 Total GLP-13 3,526 92% 80% Lo
Slide 123: Diabetes market in Rest of World
Rest of World 123 Investor presentation First six months of 2022 Novo Nordisk® Diabetes market share and market growth in Rest of World Diabetes market growth and Novo Nordisk market share Diabetes market size and growth DKK 20% 45% billion 18% ~11% 1 2 66 35% 3 15% 38% 59 25% 10% 15% 11% 5% 5% ~38%
Slide 124: GLP-1 market in Rest of World
Rest of World 124 Investor presentation First six months of 2022 Novo Nordisk® GLP-1 market share and market growth in Rest of World GLP-1 market growth and Novo Nordisk market share GLP-1 market size and growth 110% 140% DKK billion ~57% 98% 120% 3 0 7 117% 90% 0 100% 70% 66% 80% 5 57% 60% 50% 40%
Slide 125: Insulin market in Rest of World
Rest of World 125 Investor presentation First six months of 2022 Novo Nordisk® Insulin market size and volume market share in Rest of World Insulin market share and market size (DKK billion) Market Δ Market Insulin volume: market share growth share 80% 20% Total 57% 58% 11 5.6% +1.7% 15% 60% 57% Lon
Slide 126: Obesity market in Rest of World
Rest of World 126 Investor presentation First six months of 2022 Novo Nordisk® Obesity market share and market growth in Rest of World Obesity market growth and Novo Nordisk market share Obesity market size and growth DKK 50% 30% billion ~20% 44% 2.9 0.1 39% 40% 0.4 0.3 20% 2.4 20% 30% 10% 20% 0% 10
Slide 127: North America Operations
127 Investor presentation First six months of 2022 North America Operations NAO growth drivers 128 USA health care system 129 NAO at a glance 131
Slide 128: NAO aspiration of transforming 70% of US sales by 2022
NAO 128 Investor presentation First six months of 2022 Novo Nordisk® NAO remains committed to its strategic aspiration of transforming 70% of US sales by 2022 The strategic aspiration is to transform 70% of sales Strategy Framework for North America Operations 100% Maximise the 80% semaglutide molec
Slide 129: US health insurance dominated by few large commercial payers
NAO 129 Investor presentation First six months of 2022 Novo Nordisk® US health insurance is dominated by few large commercial payers US population by health insurance status Covered lives by PBM DKK Development of Novo Nordisk rebates has been stable in recent years billion and net sales in the US 3
Slide 130: North America Operations growth has accelerated
NAO 130 Investor presentation First six months of 2022 Novo Nordisk® North America Operations growth has accelerated DKK North America Operations reported sales growth per therapy area billion 3% 1% 3% 14% 24% 67 60 61 57 41 2018 2019 2020 2021 H1 2022 GLP-1 Insulin Other diabetes Obesity care Rare
Slide 131: North America Operations at a glance
NAO 131 Investor presentation First six months of 2022 Novo Nordisk® North America Operations at a glance Diabetes trend in population Diabetes market by value and Novo Nordisk reported sales Novo Nordisk market share Million DKK Sales First half of 2022 Growth2 billion (mDKK) 70 10% 600 80% Total G
Slide 132: Diabetes market in North America Operations
NAO 132 Investor presentation First six months of 2022 Novo Nordisk® Diabetes market share and market growth in North America Operations Diabetes market growth and Novo Nordisk market share Diabetes market size and growth DKK 50% billion ~21% 37 592 28 40 40% 38% 488 33% 30% 26% 21% 20% 10% ~26% 33%
Slide 133: GLP-1 market in North America Operations
NAO 133 Investor presentation First six months of 2022 Novo Nordisk® GLP-1 market share and market growth in North America Operations GLP-1 market growth and Novo Nordisk market share GLP-1 market size and growth DKK billion ~46% 27 202 60% 60% -2 54% 38 54% 139 40% 46% ~54% 20% 54% 53% 50% 51% 0% M
Slide 134: Total Rybelsus TRx volume steadily growing in the US
NAO 134 Investor presentation First six months of 2022 Novo Nordisk® Total Rybelsus® TRx volume is steadily growing in the US Rybelsus® and SGLT-2i1 uptake in the US2 since respective launches In H1, Rybelsus® sales account for 20% share of growth of NAO sales TRx count (000s) Rybelsus® TRx SGLT-2i
Slide 135: Volume market shares in three insulin segments
NAO 135 Investor presentation First six months of 2022 Novo Nordisk® Novo Nordisk volume market shares in the three insulin segments USA long-acting insulin USA premix insulin USA fast-acting insulin tMU tMU tMU 100 80% 80 80% 80 100% CAGR volume1: 0.5% CAGR volume1: -7.2% CAGR volume1: 1.9% MI pene
Slide 136: Insulin market in North America Operations
NAO 136 Investor presentation First six months of 2022 Novo Nordisk® Insulin market size and volume market share in North America Operations Insulin market share and market size (DKK billion) Market Δ Market Insulin volume: market share growth share 60% 12% Total 42% 204 3.1% -0.2% 8% Long- 38% 37%
Slide 137: Obesity market in North America Operations
NAO 137 Investor presentation First six months of 2022 Novo Nordisk® Obesity market share and market growth in North America Operations Obesity market growth and Novo Nordisk market share Obesity market size and growth 100% 220% DKK 93% billion ~155% 185% 15.3 180% 0.1 80% 140% 60% 155% 6.5 9.2 100%
Slide 138: Financials
138 138 Investor presentation First six months of 2022 Financials Profit and loss, capital allocation 139 Currencies 145
Slide 139: Solid sales growth driven by Diabetes and Obesity care
139 Investor presentation First six months of 2022 Novo Nordisk® Solid sales growth driven by Diabetes and Obesity care Reported annual sales 2017-2021 Expected development towards 2025 DKK billion 150 14% Gross margin Remain broadly stable +4.7%1 15% 14% 16% 15% 17% 16% 16% Gradually decline enable
Slide 140: Solid operating profit growth driven by Diabetes care
140 Investor presentation First six months of 2022 Novo Nordisk® Solid operating profit growth driven by Diabetes care Operating profit split Operating profit by franchise DKK Percent billion of sales 1% -4% 11% 3% 8% 70 60% 5% 3% 6% 7% 13% 16% 22% 60 50% 50 40% 40 30% 30 84% 78% 20% 20 10 10% 0 0%
Slide 141: Resource allocation guided by investing in future growth
141 Investor presentation First six months of 2022 Novo Nordisk® Resource allocation in Novo Nordisk is guided by investing in future growth while delivering attractive shareholder returns Corporate strategy guides resource allocation Expected primary sales growth drivers towards 2030 ILLUSTRATIVE W
Slide 142: Net profit converted to cash and returned to shareholders
142 Investor presentation First six months of 2022 Novo Nordisk® Net profit has been converted to cash and returned to shareholders Cash conversion and allocation (2021) Strategic capital allocation priorities DKK billion Business development investments to enhance R&D pipeline 48 48 50 CAPEX invest
Slide 143: Higher profitability in Rare disease segment
143 Investor presentation First six months of 2022 Novo Nordisk® Higher profitability in the Rare disease segment driven by lower S&D costs Diabetes and Obesity care P&L – full year 2021 Rare disease P&L – full year 2021 DKK DKK billion billion 140 -16% Sales ratios 20 -22% Sales ratios 120 -28% -17
Slide 144: Stable COGS level as percentage of sales
144 Investor presentation First six months of 2022 Novo Nordisk® Stable COGS level as percentage of sales Cost of goods sold Capital expenditure DKK DKK billion billion 25 25% 14 10% 12 20 20% 8% 10 15 15% 8 6% 10 10% 6 4% 4 5 5% 2% 2 0 0% 0 0% 2017 2018 2019 2020 2021 2017 2018 2019 2020 2021 2022
Slide 145: Currency impact on Novo Nordisk's P/L
145 Investor presentation First six months of 2022 Novo Nordisk® Currency impact on Novo Nordisk’s P/L Operational currency impact Financial currency impact • All movements in currencies will directly impact the • All gain/losses from hedging contracts are included in individual reported functional
Slide 146: Operating profit expected to be positively impacted by currencies
146 Investor presentation First six months of 2022 Novo Nordisk® Operating profit expected to be positively impacted by currencies in 2022, partly countered by net financials Avg. H1 2022 vs. Avg. H1 2021 Exp. Avg FY 20221 vs. FY 2021 14% 10% H1 2022 6% • Positive impact on operating profit of DKK 3
Slide 147: Purpose & Sustainability
147 Investor presentation First six months of 2022 Purpose & Sustainability Sustainable business 148 Environmental responsibility 150 Social responsibility 153 Governance 158 RANJITH S. Ranjith lives with type 1 diabetes India
Slide 148: Long-term value to society driven by purpose and responsible business
148 Investor presentation First six months of 2022 Novo Nordisk® Long-term value to society is driven by a strong sense of purpose and by being a responsible business Foundation ownership enables long-term focus on ESG1 responsibility has been anchored in shared value creation Articles of Associatio
Slide 149: 2021 statement of ESG performance
149 Investor presentation First six months of 2022 Novo Nordisk® 2021 statement of ESG performance 2021 2020 2019 Resources Energy consumption for operations (1,000 GJ) 3,387 3,191 2,993 Share of renewable power for production sites 100% 100% 76% Environmental Water consumption for production sites
Slide 150: Circular for Zero environmental aspiration
150 150 Investor presentation First six months of 2022 Novo Nordisk® With Circular for Zero, Novo Nordisk aspires to have zero environmental impact Environmental aspirations Circular products Upgrade existing and design new products based on circular principles and solve the end-of-life product wast
Slide 151: Net-zero emissions across value chain by 2045
151 Investor presentation First six months of 2022 Novo Nordisk® Novo Nordisk pledges to reach net-zero emissions across the entire value chain by 2045 Reporting CO2 emissions across scopes in the Company Announcement H1 2022 Key initiatives to reduce CO2 emissions across all three scopes H1 2019 to
Slide 152: Addressing plastic footprint
152 Investor presentation First six months of 2022 Novo Nordisk® Reaching more patients will increase the plastic footprint, a challenge Novo Nordisk has started to address Growing volumes impact Novo Nordisk’s plastic footprint Change to sustainable plastic ILLUSTRATIVE • Engage with suppliers to p
Slide 153: Social responsibility: prevention, access and innovation
153 Investor presentation First six months of 2022 Novo Nordisk® Social responsibility is core to Novo Nordisk and initiatives focus on prevention, access and innovation …accelerating …providing access to …innovating to prevention to affordable care for vulnerable improve lives… bend the curve… pati
Slide 154: More than 5 million people reached with affordability programmes
154 Investor presentation First six months of 2022 Novo Nordisk® In 2021, more than 5 million people with diabetes were reached with affordability programmes 5 out of 35 million people were reached A number of focused programmes (as of full year 2021) with access and affordability efforts • 3 USD ce
Slide 155: In the US, net prices have declined
155 Investor presentation First six months of 2022 Novo Nordisk® In the US, net prices have declined in the last five years The US population by health insurance Net prices1 across the full Novo Nordisk coverage Insulin net prices1 have declined portfolio2 declined Index Index 7% 150 150 124 116 47%
Slide 156: Barriers to access go beyond price
156 Investor presentation First six months of 2022 Novo Nordisk® Barriers to access go beyond price Diabetes Compass launched with Thermal solution for human insulin can iCare initiative towards strengthening World Diabetes Foundation address one key access to care barrier health infrastructure in M
Slide 157: Sustainable employer: inclusive and diverse
157 Investor presentation First six months of 2022 Novo Nordisk® The journey towards being a sustainable employer starts with being inclusive and diverse 2025 aspiration supporting Diversity and Inclusion Driving an inclusive and diverse workplace Diversity & Inclusion aspirational targets: • Create
Slide 158: Structure in place to ensure corporate governance
158 Investor presentation First six months of 2022 Novo Nordisk® Structure in place to ensure corporate governance Rules and Regulations Governance structure Assurance measures Shareholders A and B share structure Danish and foreign laws and Audit financial data and review regulations social and env
Slide 159: Sustainable tax approach
159 Investor presentation First six months of 2022 Novo Nordisk® Novo Nordisk has a sustainable tax approach Sustainable tax approach approved by the BoD Corporate income taxes by region – three year average in DKK billion 1 | Commercially driven Corporate Region IP rights1 Production2 Sales3 income
Slide 160: ESG integrated in reporting and remuneration
160 Investor presentation First six months of 2022 Novo Nordisk® ESG is integrated in reporting and remuneration as well as recognised externally ESG is included in integrated reporting and Reporting on ESG performance is in ESG rankings by third-party agencies short- and long-term remuneration acco
Slide 161: Investor contact information
161 Investor presentation First six months of 2022 Novo Nordisk® Investor contact information Share information Investor Relations contacts Novo Nordisk’s B shares are listed on the stock exchange in Novo Nordisk A/S Copenhagen under the symbol ‘NOVO B’. Its ADRs are listed on the Investor Relations