Novo Nordisk A/s Class B · OMXCOP:NOVO_B
Novo Nordisk A/s Class B — Q1 2017 Earnings Presentation
118 slides from Novo Nordisk A/s Class B's earnings presentation, May 3, 2017
Slide 1: Investor presentation First three months of 2017
Slide 1 Investor presentation First three months of 2017 Manato Ohara, diagnosed with type 1 diabetes Kanagawa, Japan
Slide 2: Agenda
Investor presentation First three months of 2017 Slide 2 Agenda Highlights and key events Sales update R&D update Financials and outlook
Slide 3: Forward-looking statements
Investor presentation First three months of 2017 Slide 3 Forward-looking statements Novo Nordisk’s reports filed with or furnished to the US Securities and Exchange Commission (SEC), including the company’s Annual Report 2016 and Form 20-F, which are both filed with the SEC in February 2017 in conti
Slide 4: Highlights – First three months of 2017
Investor presentation First three months of 2017 Slide 4 Highlights – First three months of 2017 Sales development • Sales increased by 5% in Danish kroner and 3% in local currencies • North America Operations grew by 5% in Danish kroner and accounted for 34% share of growth in local currencies • In
Slide 5: New members of Executive management
Investor presentation First three months of 2017 Slide 5 New members of Executive management President & CEO Lars Fruergaard Jørgensen Finance, Legal & Research & Product Supply North America International Business Services Investor Relations Development Operations Operations and Compliance Jesper M
Slide 6: Sales growth is primarily driven by Region Europe, the US and Region China
Investor presentation First three months of 2017 Slide 6 Sales growth is primarily driven by Region Europe, the US and Region China Sales as reported – First three months of 2017 Growth analysis – First three months of 2017 Region Region Latin America Local currencies Growth Share of growth Japan &
Slide 7: Sales growth is driven by new-generation insulin and Victoza
Investor presentation First three months of 2017 Slide 7 Sales growth is driven by new-generation insulin and Victoza® Sales as reported – First three months of 2017 Growth analysis – First three months of 2017 Human growth hormone Local currencies Growth Share of growth (32%) Other biopharmaceutica
Slide 8: Global roll-out of Tresiba continuing according to plan supported by Xultophy launches
Investor presentation First three months of 2017 Slide 8 Global roll-out of Tresiba® continuing according to plan supported by Xultophy® launches Tresiba® value share of basal insulin segment Combined value share of Tresiba® and in selected countries, excluding the USA Xultophy® in selected countrie
Slide 9: Increasing total market share of the basal insulin franchise in the US
Investor presentation First three months of 2017 Slide 9 Increasing total market share of the basal insulin franchise in the US Weekly TRx volume market shares in the US Tresiba® launch in the US Tresiba® Levemir® NN Total Basal • Tresiba® new to brand prescriptions market share is now Basal glargin
Slide 10: Victoza maintains leadership in the faster growing US GLP-1 market
Investor presentation First three months of 2017 Slide 10 Victoza® maintains leadership in the faster growing US GLP-1 market US GLP-1 market development US GLP-1 market TRx volume US GLP-1 market shares MAT Total TRx MAT volume GLP-1 TRx Victoza® exenatide GLP-1 TRx Victoza® exenatide GLP-1 TRx Gro
Slide 11: Continued global roll-out of Saxenda and an evolving obesity portfolio
Investor presentation First three months of 2017 Slide 11 Continued global roll-out of Saxenda® and an evolving obesity portfolio Saxenda® value share of anti-obesity medications in selected countries The global obesity potential Mexico Australia USA Canada Germany Italy Brazil Denmark The unmet nee
Slide 12: Positive CHMP opinion for Refixia (N9-GP) in the EU
Investor presentation First three months of 2017 Slide 12 Positive CHMP opinion for Refixia® (N9-GP) in the EU Kinetics of long-acting FIX therapies Regulatory status and next steps N9-GP 40 IU/kg once-weekly albutrepenonacog alfa 40 IU/kg once-weekly1 EU eftrenonacog alfa 50 IU/kg once-weekly2 • Po
Slide 13: Key development milestones reached
Investor presentation First three months of 2017 Slide 13 Key development milestones reached • EU approval of label update for Tresiba® based on data from SWITCH trials Diabetes • New drug application for fast-acting insulin aspart (NN1218) resubmitted in the USA • Once-weekly semaglutide (NN9535) f
Slide 14: Significant regulatory news flow in 2017
Investor presentation First three months of 2017 Slide 14 Significant regulatory news flow in 2017 Results available Regulatory milestone Project Q1 2017 Q2 2017 Q3 2017 Q4 2017 US & EU submission of DEVOTE data Tresiba® US label update decision EU SWITCH approval √ for SWITCH SUSTAIN 7 US regulator
Slide 15: Financial results – first three months 2017
Investor presentation First three months of 2017 Slide 15 Financial results – first three months 2017 DKK million Q1 2017 Q1 2016 Change Sales 28,452 27,212 5% Gross profit 24,201 22,978 5% Gross margin 85.1% 84.4% Sales and distribution costs (6,787) (6,741) 1% Percentage of sales 23.9% 24.8% Resea
Slide 16: A global cost containment programme was implemented in the second half of 2016
Investor presentation First three months of 2017 Slide 16 A global cost containment programme was implemented in the second half of 2016 Cost development for the first three months of Development in full-time employees before and 2015-2017 after the Q3 release in 2016 DKK Q1 2015 Q1 2016 Q1 2017 1,0
Slide 17: Currency impact in 2017 driven by development in both hedged and unhedged currencies
Investor presentation First three months of 2017 Slide 17 Currency impact in 2017 driven by development in both hedged and unhedged currencies USD/DKK CNY/DKK JPY/DKK GBP/DKK CAD/DKK 140 Hedged 2016 2017 Spot Impact of a Hedging Index (1 Jan 2015= 100) Currencies average average2 rate2 5% move3 (mon
Slide 18: Financial outlook for 2017
Investor presentation First three months of 2017 Slide 18 Financial outlook for 2017 Expectations Previous expectations 3 May 2017 2 Feb 2017 Sales growth - local currencies 0% to 3% -1% to 4% Sales growth - reported Around 1 percentage point higher Around 2 percentage points higher Operating profit
Slide 19: Closing remarks
Investor presentation First three months of 2017 Slide 19 Closing remarks Solid leadership positions and continued market opportunities Promising pipeline and product launches > 27% > Novo Nordisk value market share in diabetes • The only company with a full portfolio of novel care and solid leaders
Slide 20: Investor contact information
Investor presentation First three months of 2017 Slide 20 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 Investor Relations the New Yo
Slide 21: Appendix
Investor presentation First three months of 2017 Slide 21 Appendix 1. Novo Nordisk at a glance 2. Diabetes and obesity 3. Biopharmaceuticals 4. Financials 5. Sustainability
Slide 22: Novo Nordisk at a glance
Investor presentation First three months of 2017 Slide 22 Novo Nordisk at a glance Global leader in diabetes care Global insulin market leadership • A focused pharmaceutical company with leading positions Global insulin market share: 46% in diabetes, haemophilia and growth hormone Region Europe: Mar
Slide 23: Novo Nordisk works with four strategic focus areas based on five core capabilities
Investor presentation First three months of 2017 Slide 23 Novo Nordisk works with four strategic focus areas based on five core capabilities STRATEGIC PRIORITIES CORE CAPABILITIES Engineering, Deep disease Efficient Planning and Building and formulating, understanding large-scale executing maintaini
Slide 24: Novo Nordisk has leading positions in diabetes, haemophilia and growth disorders
Investor presentation First three months of 2017 Slide 24 Novo Nordisk has leading positions in diabetes, haemophilia and growth disorders Diabetes Haemophilia Growth disorders DKK Market value DKK Market value DKK Market value billion Novo Nordisk value market share billion Novo Nordisk value marke
Slide 25: Top line growth driven by the diabetes pandemic
Investor presentation First three months of 2017 Slide 25 Top line growth driven by the diabetes pandemic Novo Nordisk reported quarterly sales International Diabetes Federation projects that by therapy 642 million people will have diabetes by 2040 DKK Diabetes and obesity Haemophilia2 Million North
Slide 26: Novo Nordisk has a strong leadership position within the growing diabetes care market
Investor presentation First three months of 2017 Slide 26 Novo Nordisk has a strong leadership position within the growing diabetes care market Global diabetes care market Global diabetes care by treatment class value market share DKK OAD GLP-1 Insulin Novo Nordisk Sanofi Eli Lilly Merck billion Ast
Slide 27: Significant growth opportunities fuelled by strong R&D pipeline across all four strategic focus areas
Investor presentation First three months of 2017 Slide 27 Significant growth opportunities fuelled by strong R&D pipeline across all four strategic focus areas PHASE 1 PHASE 2 PHASE 3 SUBMITTED APPROVED1 LAI287 – QW basal insulin Semaglutide – QD GLP-1 OG217SC – Oral GLP-1 Fast-acting insulin aspart
Slide 28: Growth opportunities supported by strong global presence in both sales and manufacturing
Investor presentation First three months of 2017 Slide 28 Growth opportunities supported by strong global presence in both sales and manufacturing FTEs in sales regions1 Global manufacturing setup Kaluga, Russia (~240 FTEs) North America Operations: ~4,900 Denmark (~9,500 FTEs) • Diabetes and biopha
Slide 29: Solid patent protection of innovative drugs
Investor presentation First three months of 2017 Slide 29 Solid patent protection of innovative drugs Novo Nordisk’s position is protected Barriers to entry by patents and value chain setup for biosimilar players Patent protection1 Unique value chain position EU/US0 Research & Development Research &
Slide 30: Diabetes and obesity
Investor presentation First three months of 2017 Slide 30 Diabetes and obesity
Slide 31: Diabetes – the inability to manage blood sugar levels appropriately
Investor presentation First three months of 2017 Slide 31 Diabetes – the inability to manage blood sugar levels appropriately The aim of insulin therapy is to recreate normal Facts about diabetes blood insulin profile Diabetes is a chronic disease that occurs either when the pancreas does not produc
Slide 32: Diabetes pandemic is fuelled by growing rates of obesity
Investor presentation First three months of 2017 Slide 32 Diabetes pandemic is fuelled by growing rates of obesity US CDC data on obesity and diabetes prevalence among adults 1994 2000 2014 Obesity prevalence (BMI ≥30 kg/m2) <14.0% 14.0-17.9% 18.0-21.9% 22.0-25.9% 26.0-29.9% ≥30% Diabetes prevalence
Slide 33: Poor diagnosis rates, lack of access to optimal treatment and poor glycaemic control remain global problems
Investor presentation First three months of 2017 Slide 33 Poor diagnosis rates, lack of access to optimal treatment and poor glycaemic control remain global problems Diagnosis and optimal treatment The worldwide challenge of glycaemic control: remains a challenge – the rule of halves Mean HbA1C in t
Slide 34: UKPDS: Tight glycaemic control reduces risk of micro- and macrovascular complications
Investor presentation First three months of 2017 Slide 34 UKPDS: Tight glycaemic control reduces risk of micro- and macrovascular complications UKPDS 10 year follow-up: Risk reduction by lowering HbA1c by 1%-point Legacy effect of tight glycaemic control Diabetes- Peripheral related Myocardial Micro
Slide 35: Insulin is the ultimate care for people with diabetes
Investor presentation First three months of 2017 Slide 35 Insulin is the ultimate care for people with diabetes Progression of type 2 diabetes and treatment Distribution of patients and value across intensification treatment classes Insulin GLP-1 OAD 100% Diet and exercise 80% 37% -cell function OA
Slide 36: The insulin market is comprised of three segments
Investor presentation First three months of 2017 Slide 36 The insulin market is comprised of three segments Insulin action profiles Global insulin volume market by segment CAGR volume1: 4.5% tMU CAGR value1: 19.8% Fast-acting 500 450 400 40% 350 Long-acting 300 37% Premix 250 26% Premix 200 29% 150
Slide 37: Medications used for the treatment of type 2 diabetes
Investor presentation First three months of 2017 Slide 37 Medications used for the treatment of type 2 diabetes Commonly prescribed products for the treatment of type 2 diabetes HbA1C Hypo- Weight CVD risk Dosing Contraindication/ Class change glycaemia change factors (pr. day) undesired effects Met
Slide 38: Solid position in the diabetes care market across all regions with leading insulin market share
Investor presentation First three months of 2017 Slide 38 Solid position in the diabetes care market across all regions with leading insulin market share Diabetes care value Diabetes care value Insulin volume Insulin volume Regions market composition market share market composition market share 30%
Slide 39: Stable global insulin volume growth
Investor presentation First three months of 2017 Slide 39 Stable global insulin volume growth Regional insulin volume growth Regional insulin volume market split North America Reg Europe Reg AAMEO Reg China North America Reg Europe Reg AAMEO Reg J&K Reg J&K Reg LATAM World Reg China Reg LATAM 30% 3%
Slide 40: Maintaining global insulin leadership by sustaining modern and new generation insulin market share
Investor presentation First three months of 2017 Slide 40 Maintaining global insulin leadership by sustaining modern and new generation insulin market share Novo Nordisk global volume market share across insulin classes class volume Novo Nordisk class MS (%) tMU Human insulin1 tMU MI and NGI3 tMU To
Slide 41: Strong underlying insulin market growth and sustained global volume market share
Investor presentation First three months of 2017 Slide 41 Strong underlying insulin market growth and sustained global volume market share Global modern and new generation insulin Global insulin market volume market shares Device penetration Modern insulin penetration1 Novo Nordisk Sanofi Eli Lilly
Slide 42: Continued global single digit volume growth within the modern insulin segments
Investor presentation First three months of 2017 Slide 42 Continued global single digit volume growth within the modern insulin segments Fast-acting insulin Premix insulin Long-acting insulin Segment volume Segment volume Segment volume Levemir® share NovoRapid® market share NovoMix® market share Tr
Slide 43: Solid US market share within the modern and new generation insulin segment
Investor presentation First three months of 2017 Slide 43 Solid US market share within the modern and new generation insulin segment Insulin market by segments in the US MI and NGI volume market shares in the US Device penetration Modern Insulin penetration Novo Nordisk Sanofi Eli Lilly tMU CAGR vol
Slide 44: Novo Nordisk's modern insulins maintain market share in the US insulin market
Investor presentation First three months of 2017 Slide 44 Novo Nordisk’s modern insulins maintain market share in the US insulin market US fast-acting insulin US premix insulin US long-acting insulin Segment volume Segment volume Segment volume Levemir® share NovoLog® share NovoLog® Mix 70/30 share
Slide 45: US health insurance is dominated by few large commercial payers
Investor presentation First three months of 2017 Slide 45 US health insurance is dominated by few large commercial payers with slow expansion of public insurance coverage US Population by health insurance status In 2016 PBMs covered 266 million lives and the expected to remain stable in coming years
Slide 46: Maintained leadership position in the European modern and new generation insulin market
Investor presentation First three months of 2017 Slide 46 Maintained leadership position in the European modern and new generation insulin market European insulin market by segments European MI and NGI volume market shares Device penetration MI and NGI penetration Novo Nordisk Sanofi Eli Lilly tMU C
Slide 47: Stable leadership position in Africa, Asia, Middle-East and Oceania (AAMEO)
Investor presentation First three months of 2017 Slide 47 Stable leadership position in Africa, Asia, Middle-East and Oceania (AAMEO) AAMEO insulin market by segments AAMEO MI and NGI volume market shares Device penetration MI and NGI penetration Novo Nordisk Sanofi Eli Lilly Biocon tMU CAGR volume1
Slide 48: Solid market leadership position in Japan & Korea
Investor presentation First three months of 2017 Slide 48 Solid market leadership position in Japan & Korea Japan & Korea insulin market by segments Japan & Korea MI and NGI volume shares Device penetration MI and NGI penetration Novo Nordisk Eli Lilly Sanofi tMU CAGR volume : 0.3% 1 Penetration 16
Slide 49: Solid Tresiba performance strengthens basal insulin market share in Japan
Investor presentation First three months of 2017 Slide 49 Solid Tresiba® performance strengthens basal insulin market share in Japan Japanese basal value market shares Japanese total insulin value market shares Tresiba® Levemir® NN Total Basal NPH Novo Nordisk Eli Lilly Sanofi glargine U100 glargine
Slide 50: Solid growth in the Chinese insulin market
Investor presentation First three months of 2017 Slide 50 Solid growth in the Chinese insulin market Chinese insulin market by segments Chinese insulin volume market shares Device penetration Modern Insulin penetration Novo Nordisk Eli Lilly Tonghua Dongbao tMU CAGR volume1: 12.4% Penetration Sanofi
Slide 51: Continued expansion of the modern insulin market in China
Investor presentation First three months of 2017 Slide 51 Continued expansion of the modern insulin market in China Chinese insulin market by segments Chinese total insulin value market shares Device penetration Modern Insulin penetration Novo Nordisk Sanofi Eli Lilly bDKK Penetration Gan & Lee Tong
Slide 52: Strengthened insulin volume market share in Latin America
Investor presentation First three months of 2017 Slide 52 Strengthened insulin volume market share in Latin America Latin America insulin market by segments Latin America MI and NGI volume shares Device penetration MI and NGI penetration Novo Nordisk Eli Lilly Sanofi tMU CAGR volume : 13.8% 1 Penetr
Slide 53: GLP-1 effect dependent on level of blood glucose
Investor presentation First three months of 2017 Slide 53 GLP-1 effect dependent on level of blood glucose − which reduces risk of hypoglycaemia GLP-1 mechanism of action when blood GLP-1 lowers blood glucose in patients sugar levels increase with type 2 diabetes • Increases insulin secretion in the
Slide 54: The combined GLP-1 segment accounts for around 10% with rapid value market growth
Investor presentation First three months of 2017 Slide 54 The combined GLP-1 segment accounts for around 10% with rapid value market growth GLP-1 value and patient share of the total Global GLP-1 market diabetes market GLP-1 value Victoza® other Share of total GLP-1 value share of total diabetes in
Slide 55: Strong GLP-1 volume growth across the regions with a steep uptake for Region Latin America
Investor presentation First three months of 2017 Slide 55 Strong GLP-1 volume growth across the regions with a steep uptake for Region Latin America Regional GLP-1 volume growth Regional GLP-1 volume market split North America Region Europe Region China North America Region Europe Region AAMEO Regio
Slide 56: The combined GLP-1 segment accounts for 12% of the total diabetes care market in North America
Investor presentation First three months of 2017 Slide 56 The combined GLP-1 segment accounts for 12% of the total diabetes care market in North America North America GLP-1 market Key observations for Victoza® in the US market GLP-1 value Victoza® other Share of total in bDKK dulaglutide exenatide d
Slide 57: The combined GLP-1 segment accounts for around 10% of the total diabetes care market in Europe
Investor presentation First three months of 2017 Slide 57 The combined GLP-1 segment accounts for around 10% of the total diabetes care market in Europe European GLP-1 market Victoza® value market share in Europe GLP-1 value Victoza® other Share of total GLP-1 value Victoza® other in bDKK dulaglutid
Slide 58: The combined GLP-1 segment accounts for more than 2% of the total diabetes care market in AAMEO
Investor presentation First three months of 2017 Slide 58 The combined GLP-1 segment accounts for more than 2% of the total diabetes care market in AAMEO AAMEO GLP-1 market Victoza® value market share in AAMEO GLP-1 value Victoza® lixisenatide Share of total GLP-1 value Victoza® lixisenatide in bDKK
Slide 59: The combined GLP-1 segment accounts for around 4% of the total diabetes care market in Japan & Korea
Investor presentation First three months of 2017 Slide 59 The combined GLP-1 segment accounts for around 4% of the total diabetes care market in Japan & Korea Japan & Korea GLP-1 market Victoza® value market share in Japan & Korea GLP-1 value Victoza® other Share of total GLP-1 value Victoza® other
Slide 60: Strong market leadership of Victoza in Latin America
Investor presentation First three months of 2017 Slide 60 Strong market leadership of Victoza ® in Latin America Latin America GLP-1 market Victoza® value market share in Latin America GLP-1 value Victoza® other Share of total GLP-1 value Victoza® other in bDKK dulaglutide exenatide diabetes care ma
Slide 61: Victoza maintains a solid position in the global segment
Investor presentation First three months of 2017 Slide 61 Victoza® maintains a solid position in the global segment Segment value Share of segment value growth Segment value market shares DKK Victoza® Other GLP-1 SGLT-2 DPP-IV billion 200 100% 100% 13% 12% 180 160 80% 80% CAGR1 value: 140 31.0% 120
Slide 62: Key Novo Nordisk diabetes care products remain broadly available in the US
Investor presentation First three months of 2017 Slide 62 Key Novo Nordisk diabetes care products remain broadly available in the US Value market shares of key % unrestricted market access of key Novo Nordisk products in the US Novo Nordisk products in the US Value market Victoza® NovoLog® Levemir®
Slide 63: Novo Nordisk current and future product portfolio covers the type 2 diabetes treatment flow
Investor presentation First three months of 2017 Slide 63 Novo Nordisk current and future product portfolio covers the type 2 diabetes treatment flow1 Overview of current and future products in Novo Nordisk’s diabetes portfolio When basal insulin is not enough When When it's time metformin is for in
Slide 64: R&D pipeline: Diabetes, obesity and other areas
Investor presentation First three months of 2017 Slide 64 R&D pipeline: Diabetes, obesity and other areas Product/project Type Indication Status (phase) 1 2 3 Filed Appr. Fast-acting insulin aspart (NN1218)1 New formulation of insulin aspart Type 1+2 Semaglutide (NN9535) Once-weekly GLP-1 analogue T
Slide 65: Tresiba demonstrated CV safety and reduced severe hypoglycaemia risk in DEVOTE trial
Investor presentation First three months of 2017 Slide 65 Tresiba® demonstrated CV safety and reduced severe hypoglycaemia risk vs insulin glargine U100 in DEVOTE trial DEVOTE trial design Key results and next step • Non-inferiority on CV safety demonstrated with a hazard Tresiba® once daily (blinde
Slide 66: Xultophy showed significant reduction of hypoglycaemic events and weight loss in phase 3b study
Investor presentation First three months of 2017 Slide 66 Xultophy® showed significant reduction of hypoglycaemic events and weight loss vs basal-bolus in phase 3b study DUAL VII phase 3b trial design Key results and next steps • Xultophy® successfully demonstrated similar glucose control compared t
Slide 67: Fast-acting insulin aspart approved in the EU and Canada, FDA decision expected Q4 2017
Investor presentation First three months of 2017 Slide 67 Fast-acting insulin aspart approved in the EU and Canada, regulatory decision by FDA expected Q4 2017 Regulatory decisions and next steps Fiasp® vs NovoRapid® EU label characteristics • Fiasp® HbA1c reduction of -0.32% compared Efficacy NovoR
Slide 68: Victoza reduced the risk of major adverse cardiovascular events in the LEADER trial
Investor presentation First three months of 2017 Slide 68 Victoza® statistically significantly reduced the risk of major adverse cardiovascular events in the LEADER trial 13% reduction in 3-point MACE with Victoza® compared with placebo Key results Patients1 with an Victoza® Placebo • Superiority of
Slide 69: Tresiba shows lower rate of hypoglycaemia than insulin glargine U100 in SWITCH trials
Investor presentation First three months of 2017 Slide 69 Tresiba® shows lower rate of hypoglycaemia than insulin glargine U100 in SWITCH trials – filed in H2 2016 SWITCH 1 – type 1 diabetes SWITCH 2 – type 2 diabetes Hypoglycaemic Hypoglycaemic Tresiba® glargine U100 events per 100 PYE events per 1
Slide 70: Semaglutide reduced the risk of major cardiovascular events in SUSTAIN 6
Investor presentation First three months of 2017 Slide 70 Semaglutide significantly reduced the risk of major cardiovascular events with 26% vs placebo in SUSTAIN 6 Semaglutide demonstrated 26% reduction in composite CV outcome compared with placebo Key results and next step Patients with an semaglu
Slide 71: Semaglutide shows best in-class potential on HbA1c reduction
Investor presentation First three months of 2017 Slide 71 In phase 3a trials semaglutide shows best in-class potential on HbA1c reduction across treatment cascade Comparison of HbA1c lowering effect in SUSTAIN 1, 2, 3, 4 and 5 trials % patients HbA1c ≤7% Sema 1 mg Sema 0.5 mg Placebo Sitagliptin 100
Slide 72: Semaglutide shows best in-class weight lowering potential
Investor presentation First three months of 2017 Slide 72 In phase 3a trials semaglutide shows best in-class weight lowering potential across treatment cascade Comparison of weight lowering effect in SUSTAIN 1, 2, 3, 4 and 5 trials Sema 1 mg Sema 0.5 mg Placebo Sitagliptin 100 mg Exenatide QW Insuli
Slide 73: Phase 2 trial with semaglutide for NASH initiated in November 2016
Investor presentation First three months of 2017 Slide 73 Phase 2 trial with semaglutide for NASH initiated in November 2016 Once-daily semaglutide vs. placebo in patients with NASH trial design Phase 2 trial purpose and endpoints • Purpose: To compare the effects of semaglutide Semaglutide 0.4 mg s
Slide 74: Competitive Tresiba label across all three triad markets
Investor presentation First three months of 2017 Slide 74 Competitive Tresiba® label across all three triad markets Tresiba® label characteristics in triad markets US Europe Japan • Duration of action up to 26 hours in • Half-life of 25 hours and duration of • Duration of action beyond 42 hours Japa
Slide 75: Competitive labels for Xultophy in both the US and EU
Investor presentation First three months of 2017 Slide 75 Competitive labels for Xultophy® in both the US and EU US – Xultophy® 100/3.6 Europe - Xultophy® • Adjunct to diet and exercise to improve glycaemic control in adults with type 2 diabetes mellitus inadequately controlled on basal • Xultophy®
Slide 76: Xultophy has documented strong efficacy across the treatment cascade
Investor presentation First three months of 2017 Slide 76 Xultophy® has documented strong efficacy across the treatment cascade Xultophy® key clinical results DUAL I DUAL II DUAL III DUAL IV DUAL V Add-on to Add-on to Switch from GLP-1 Add-on to SU ± Switch from insulin metformin ± Pio metformin ± b
Slide 77: Oral peptide delivery challenges and solutions
Investor presentation First three months of 2017 Slide 77 Oral peptide delivery − the gastro-intestinal route poses many challenges to absorption of intact macromolecules Challenges Solutions 1. Breakdown of drug in the 1. Stabilisation of peptide backbone stomach/gastrointestinal tract and side cha
Slide 78: Oral semaglutide dose dependently reduced HbA1c and body weight in phase 2 trial
Investor presentation First three months of 2017 Slide 78 Oral semaglutide dose dependently reduced HbA1c and body weight in a 26-week phase 2 trial in type 2 diabetes HbA1c reduction from a mean baseline of 7.9% Weight loss from a mean base line of 92 kg Placebo Sema 2.5 mg Sema 5 mg Sema 10 mg Sem
Slide 79: Initiation of PIONEER trials for oral semaglutide
Investor presentation First three months of 2017 Slide 79 Initiation of PIONEER trials for oral semaglutide 2016 2017 2018 PIONEER 1: monotherapy 26 weeks, n=704 PIONEER 2: vs empagliflozin 52 weeks, n=816 PIONEER 3: vs sitagliptin 78 weeks, n=1,860 PIONEER 4: vs liraglutide 52 weeks, n=690 PIONEER
Slide 80: Anti-IL-21 in combination with liraglutide for type 1 diabetes
Investor presentation First three months of 2017 Slide 80 Anti-IL 21 in combination with liraglutide is an alternative approach for the treatment of type 1 diabetes Rationale for Anti-IL 21 and liraglutide Phase 2 trial design combination product for T1D Anti-IL 21 plays an important role in autoimm
Slide 81: Insulin LAI287 offers potential for once-weekly dosing
Investor presentation First three months of 2017 Slide 81 Insulin LAI287 offers potential for once-weekly dosing LAI287 pharmacodynamic profile Glucose Infusion Rate is compatible vs. Time with once-weekly dosing (Predicted Mean) Key results of phase 1 trial Insulin glargine LAI287 18 nmol/kg Glucos
Slide 82: Liver-preferential mealtime insulin analogue has potential to reduce hypoglycaemia and weight gain
Investor presentation First three months of 2017 Slide 82 Liver-preferential meal time insulin analogue has potential to reduce hypoglycaemia and weight gain Rationale and expected benefits of The liver is important for insulin action physiologically distributed insulin sc insulin sc liver-preferent
Slide 83: More than 20 million people in the US have a BMI above 35
Investor presentation First three months of 2017 Slide 83 More than 20 million people in the US have a BMI above 35 with either pre-diabetes or CV related comorbidities Incidence of obesity in the US (million people) The US obesity burden Obesity • Cost of obesity to health care systems of USD 147 b
Slide 84: Significant unmet need in obesity management
Investor presentation First three months of 2017 Slide 84 Significant unmet need in obesity management Insufficient treatment options Significant gaps in obesity treatment Mean 100% weight loss All people with obesity Bariatric surgery High Medium Anti-obesity medication 30% with weight loss of Peop
Slide 85: Small but growing market for anti-obesity medication in the US
Investor presentation First three months of 2017 Slide 85 Small but growing market for anti-obesity medication in the US Total anti-obesity market moving- Prescription volume uptake of anti- annual market value obesity medication sub-classes AOM value TRx Generic TRx volume Branded TRx volume in mUS
Slide 86: Steady prescription uptake for Saxenda in the US
Investor presentation First three months of 2017 Slide 86 Steady prescription uptake for Saxenda® in the US Prescription volume uptake of anti-obesity medications (AOM) recently launched in the US Key observations TRx Contrave® Belviq® • Saxenda® has been launched in 18 markets including the Volume
Slide 87: Saxenda targeted at patients with BMI ≥35 and weight-related comorbidities
Investor presentation First three months of 2017 Slide 87 Saxenda® targeted at patients with BMI ≥35 and weight-related comorbidities Saxenda® market approach Saxenda® launch execution Aspiration Focus on patients with BMI Clear patient ≥35 with weight-related segmentation comorbidities Focus on cur
Slide 88: Competitive US label for Saxenda
Investor presentation First three months of 2017 Slide 88 Competitive US label for Saxenda® Saxenda® approved in the US for chronic weight management in individuals with a BMI ≥30, or ≥27 in the presence of at least one weight-related comorbidity1 • GLP-1 receptor agonist – a physiological regulator
Slide 89: Semaglutide once daily phase 2 dose-finding trial in obesity
Investor presentation First three months of 2017 Slide 89 Semaglutide once daily phase 2 dose-finding trial in obesity is designed to optimise treatment outcomes Once-daily semaglutide phase 2 trial design Phase 2 trial purpose and endpoints Purpose semaglutide 0.05 mg • To assess and compare the do
Slide 90: Long-acting obesity compounds in phase 1 development
Investor presentation First three months of 2017 Slide 90 Long-acting obesity compounds in phase 1 development may have complimentary modes of action Key features of compounds in phase 1 development for obesity G530S – NN9838 – NN9499 – NN9747 – PYY NN9277 – GG- NN9423 – Tri- Compound Glucagon Amyli
Slide 91: Biopharmaceuticals
Investor presentation First three months of 2017 Slide 91 Biopharmaceuticals
Slide 92: Haemophilia: Location of bleedings and the consequences
Investor presentation First three months of 2017 Slide 92 Haemophilia: Location of bleedings and the consequences Locations Consequences of bleedings • Bleeding in the joint space causes a strong inflammatory reaction which predisposes to further bleeding Head and neck Nose and gums • Inadequate or
Slide 93: Haemophilia is a rare disease with severe unmet medical needs
Investor presentation First three months of 2017 Slide 93 Haemophilia is a rare disease with severe unmet medical needs Number of people with haemophilia A and B Low diagnosis and treatment rates and haemophilia with inhibitors within haemophilia Number of Average percentage of people people (000) w
Slide 94: Global haemophilia market is growing by high-single digit
Investor presentation First three months of 2017 Slide 94 Global haemophilia market is growing by high-single digit Strategic positioning of Novo Nordisk’s Sales of recombinant coagulation factors haemophilia portfolio NovoSeven® Recombinate®/Advate® Idelvion® Novo Nordisk Coagil VII® Kogenate®/Heli
Slide 95: NovoSeven – a unique biologic for the treatment of rare bleeding disorders
Investor presentation First three months of 2017 Slide 95 NovoSeven® − a unique biologic for the treatment of rare bleeding disorders NovoSeven® reported quarterly sales Key NovoSeven® properties DKK • Product characteristics: powder and solvent for solution billion for intravenous injection, availa
Slide 96: NovoEight is launched in the US, Europe and Japan
Investor presentation First three months of 2017 Slide 96 NovoEight® is launched in the US, Europe and Japan for the treatment of people with haemophilia A Example from NovoEight® promotional campaign1 NovoEight® properties and launch performance Indications: • Treatment and prophylaxis of bleeding
Slide 97: NovoThirteen provides efficacious and safe haemostatic coverage
Investor presentation First three months of 2017 Slide 97 NovoThirteen®, a recombinant FXIII, provides efficacious and safe haemostatic coverage Example from NovoThirteen® NovoThirteen® properties and launch promotional campaign1 performance Indication: • Long term prophylactic treatment of bleeding
Slide 98: R&D pipeline: Haemophilia and growth disorders
Investor presentation First three months of 2017 Slide 98 R&D pipeline: Haemophilia and growth disorders Product/project Type Indication Status (phase) 1 2 3 Filed Appr. N9-GP (NN7999)1 GlycoPEGylated long-acting rFIX Haemophilia B N8-GP (NN7088) GlycoPEGylated long-acting rFVIII Haemophilia A Conci
Slide 99: N9-GP once weekly reduces median bleeding rate in phase 3 trial
Investor presentation First three months of 2017 Slide 99 N9-GP administered once weekly reduces median bleeding rate to 1.0 episode per year in phase 3 trial N9-GP phase 1 pharmacokinetics Paradigm 2 headline results (phase 3) FIX activity rFIX pdFIX N9-GP • Steady-state half life of 110 hours (IU/
Slide 100: N8-GP every fourth day reduces median bleeding rate in phase 3 trial
Investor presentation First three months of 2017 Slide 100 N8-GP administered every fourth day reduces median bleeding rate to 1.3 episode per year in phase 3 trial N8-GP phase 1 pharmacokinetics Pathfinder 2 headline results (phase 3) FVIII activity FVIII N8-GP • PK documented single dose half-life
Slide 101: Novo Nordisk maintains leadership within human growth hormone market
Investor presentation First three months of 2017 Slide 101 Novo Nordisk maintains leadership within human growth hormone (hGH) market Development in global hGH market Growth hormone volume market share DKK MAT volume kg MAT value DKK Novo Nordisk Pfizer Sandoz billion kg Eli Lilly Merck Kgaa Roche 2
Slide 102: Solid Norditropin sales growth
Investor presentation First three months of 2017 Slide 102 Solid Norditropin® sales growth Norditropin® reported quarterly sales Key Norditropin® properties DKK • Product characteristics: Premixed, prefilled multi-use billion CAGR1 4.1% delivery systems available in multiple strengths, and stable 2.
Slide 103: Financials
Investor presentation First three months of 2017 Slide 103 Financials
Slide 104: Novo Nordisk has delivered sustained growth throughout the last decade
Investor presentation First three months of 2017 Slide 104 Novo Nordisk has delivered sustained growth throughout the last decade Sales growth in local currencies Operating profit growth in local currencies 2007–2016 2007–2016 Sales growth Average growth Operating profit growth Average growth 30% 30
Slide 105: Solid sales growth driven by the US
Investor presentation First three months of 2017 Slide 105 Solid sales growth driven by the US Reported annual sales Reported annual sales split by region DKK North America Region Europe Diabetes Biopharmaceuticals Region AAMEO billion Region China Region J&K Region LATAM 120 CAGR1 9.4% Thousands 8%
Slide 106: Modern insulin and Victoza comprise more than 60% of total sales
Investor presentation First three months of 2017 Slide 106 Modern insulin and Victoza® comprise more than 60% of total sales in the first three months of 2017 Reported sales split by product segments for Reported sales split by selected key products the first three months of 2017 for the first three
Slide 107: Solid operating profit growth driven by diabetes
Investor presentation First three months of 2017 Slide 107 Solid operating profit growth driven by diabetes Operating profit Operating profit therapy split DKK Operating profit Operating profit as % of sales Diabetes Biopharm billion Reported operating profit growth 60 Operating profit growth in loc
Slide 108: Higher profitability in the biopharmaceuticals segment
Investor presentation First three months of 2017 Slide 108 Higher profitability in the biopharmaceuticals segment driven by lower COGS and S&D Diabetes & Obesity P&L – full year 2016 Biopharmaceuticals P&L – full year 2016 DKK DKK billion billion 100 30 -15% 80 -28% 24 -12% -17% 60 18 -13% -12% -4%
Slide 109: Stable COGS level as % of sales and increasing CAPEX level
Investor presentation First three months of 2017 Slide 109 Stable COGS level as % of sales and increasing CAPEX level Cost of Goods Sold (COGS) Capital Expenditure (CAPEX) DKK COGS as % of sales DKK CAPEX as % of sales billion COGS billion CAPEX 20 25% 8 8% Thousands 7 7% 20% 15 6 6% 15% 5 5% 10 4 4
Slide 110: Long term financial targets: Operating profit growth and operating margin
Investor presentation First three months of 2017 Slide 110 Long term financial targets: Operating profit growth and operating margin Operating profit growth Operating margin New long term financial target1 Previous long term financial targets 40% Previous long term financial targets 45% 30% 30% 20%
Slide 111: Long term financial targets: Operating profit after tax to net operating assets and cash to earnings
Investor presentation First three months of 2017 Slide 111 Long term financial targets: Operating profit after tax to net operating assets and cash to earnings Operating profit after tax to Cash to earnings net operating assets (three year average) New long term financial target1 New long term finan
Slide 112: Key assumptions supporting the long-term financial target
Investor presentation First three months of 2017 Slide 112 Key assumptions supporting the long-term financial target of an average of 5% operating profit growth1 Expected future sales drivers, partly offset by expected 2-3% negative global pricing impact Expected future cost drivers • Continued unde
Slide 113: Organic growth enables steady cash return to shareholders
Investor presentation First three months of 2017 Slide 113 Organic growth enables steady cash return to shareholders via dividends and share repurchase programmes Cash return priorities and business Annual cash return to shareholders development activities DKK Share repurchase Interim dividend Divid
Slide 114: Stable ownership structure
Investor presentation First three months of 2017 Slide 114 Stable ownership structure - secured through A and B-share structure Share structure The Novo Nordisk Foundation • The Novo Nordisk Foundation is a self-governing institution Novo Nordisk Foundation that: Institutional and private • provides
Slide 115: Sustainability
Investor presentation First three months of 2017 Slide 115 Sustainability The Novo Nordisk Way The Triple Bottom Line Business Principle Financially responsible Socially Environmentally responsible responsible We build on the purpose set by our founders and live by their The Triple Bottom Line Princ
Slide 116: 2016 performance towards achieving long-term sustainability goals
Investor presentation First three months of 2017 Slide 116 2016 performance towards achieving long-term sustainability goals Working the Novo Nordisk Share of renewable power for Way1 production Operating profit growth Scale Realised Target % Realised Target3 Growth Realised Target4 5 100 35% Previo
Slide 117: Cities Changing Diabetes aims to break the 'Rule of Halves'
Investor presentation First three months of 2017 Slide 117 Cities Changing Diabetes aims to break the ‘Rule of Halves’ and stop urban diabetes from ruining millions of lives Global partnerships to develop an approach Eight partner cities are addressing to fight urban diabetes the threat of urban dia
Slide 118: Novo Nordisk is committed to the continued development of its employees
Investor presentation First three months of 2017 Slide 118 Novo Nordisk is committed to the continued development of its employees Employee health and safety and engagement Novo Nordisk is committed to building a are key focus areas for management diverse and inclusive organisation Management All ma