Novo Nordisk A/s Class B · OMXCOP:NOVO_B
Novo Nordisk A/s Class B — Shareholder Meeting (March 2022)
58 slides from Novo Nordisk A/s Class B's shareholder meeting presentation, Mar 24, 2022
Slide 1: Novo Nordisk A/S Annual General Meeting
Novo Nordisk A/S Annual General Meeting 24 March 2022
Slide 2: novo nordisk
O oe novo nordisk
Slide 3: Board of Directors
3 Annual General Meeting 24 March 2022 Novo Nordisk® Board of Directors Helge Lund Jeppe Christiansen Henrik Poulsen Laurence Debroux Andreas Fibig Sylvie Grégoire Kasim Kutay Martin Mackay Anne Marie Kverneland* Mette Bøjer Jensen* Thomas Rantzau* Stig Strøbæk* Note: * marks the employee-elected me
Slide 4: Executive Management
4 Annual General Meeting 24 March 2022 Novo Nordisk® Executive Management Lars Fruergaard Jørgensen President and chief executive officer People & International Rare disease Finance, Legal & North America Development Research & Commercial Strategy Product Supply, Organisation Operations Procurement
Slide 5: Anders Dons, Deloitte
5 Annual General Meeting 24 March 2022 Novo Nordisk® Anders Dons Deloitte
Slide 6: Klaus Søgaard and Louise Korpela, Gorrissen Federspiel
6 Annual General Meeting 24 March 2022 Novo Nordisk® Klaus Søgaard and Louise Korpela Gorrissen Federspiel
Slide 7: Agenda
7 Annual General Meeting 24 March 2022 Novo Nordisk® 1. The Board of Directors’ oral report on the company’s activities in the past financial year 2. Presentation and adoption of the audited Annual Report 2021 3. Resolution to distribute the profit according to the adopted Annual Report 2021 Agenda
Slide 8: Shareholders participating in-person: How to vote
8 Annual General Meeting 24 March 2022 Novo Nordisk® Shareholders participating in-person in Bella Center: How to vote 1. When voting motions are put forward, the motion 3. Your vote has been will automatically appear cast when the green on your screen. check mark appears. You can change your 2. To
Slide 9: Shareholders participating virtually: How to submit a question via Q&A
9 Annual General Meeting 24 March 2022 Novo Nordisk® Shareholders participating virtually: How to submit a question via Q&A 1. Click on the Q&A icon. 2. Type your question and press ‘Send’.
Slide 10: Shareholders participating virtually: How to vote (part 1)
10 Annual General Meeting 24 March 2022 Novo Nordisk® Shareholders participating virtually How to vote (part 1) 1. When voting motions are put forward, a bar with a link to the voting tab will automatically appear on your screen. Click on the link or on the Vote icon. 2. To vote, simply select your
Slide 11: Shareholders participating virtually: How to vote (part 2)
11 Annual General Meeting 24 March 2022 Novo Nordisk® Shareholders participating virtually: How to vote (part 2) 3. Your vote has been cast when the green check mark appears. You can change your vote as long as the vote is open by clicking ‘Click here to change your vote’.
Slide 12: Agenda
12 Annual General Meeting 24 March 2022 Novo Nordisk® 1. The Board of Directors’ oral report on the company’s activities in the past financial year 2. Presentation and adoption of the audited Annual Report 2021 3. Resolution to distribute the profit according to the adopted Annual Report 2021 Agenda
Slide 13: Agenda
13 Annual General Meeting 24 March 2022 Novo Nordisk® 1. The Board of Directors’ oral report on the company’s activities in the past financial year 2. Presentation and adoption of the audited Annual Report 2021 3. Resolution to distribute the profit according to the adopted Annual Report Agenda Agen
Slide 14: novo nordisk
O oe novo nordisk
Slide 15: Strategic aspirations 2025
15 Annual General Meeting 24 March 2022 Novo Nordisk® Strategic aspirations 2025 Updated at Capital Markets Day 2022 on 3 March 2022 • Further raise the innovation-bar for diabetes treatment therapeutic focus • Progress towards zero environmental impact • Develop a leading portfolio of superior trea
Slide 16: Strategic aspirations 2025 - highlights for full year 2021: Purpose and sustainability
16 Annual General Meeting 24 March 2022 Novo Nordisk® Strategic aspirations 2025 - highlights for full year 2021 Progress towards zero environmental impact: • Pledge to reach net-zero emissions across the value chain by 2045 • 43% reduction in CO2 emissions compared to 2019 Adding value to society:
Slide 17: Strategic aspirations 2025 - Innovation and therapeutic focus highlights
17 Annual General Meeting 24 March 2022 Novo Nordisk® Strategic aspirations 2025 - highlights for full year 2021 Diabetes care: • Approval of Xultophy® and Ozempic® in China for treatment of type 2 diabetes • Resubmission of semaglutide 2.0 mg in the US and approval in the EU in January 2022 • Phase
Slide 18: Strategic aspirations 2025 - Commercial execution highlights
18 Annual General Meeting 24 March 2022 Novo Nordisk® Strategic aspirations 2025 - highlights for full year 2021 Diabetes care sales increased by 13% at CER: • Value market share leadership expanded by 0.8%-points to 30.1% Obesity sales increased by 55% at CER to DKK 8.4 billion Commercial Rare dise
Slide 19: Strategic aspirations 2025 - Financials highlights
19 Annual General Meeting 24 March 2022 Novo Nordisk® Strategic aspirations 2025 - highlights for full year 2021 Sales increased by 14%, at CER, to DKK 140.8 billion • 14% sales growth in International Operations • 14% sales growth in NAO, with 60% of US sales transformed to products launched since
Slide 20: Total sales growth of 14% driven by both operational units
20 Annual General Meeting 24 March 2022 Novo Nordisk® Total sales growth of 14% driven by both operational units and with double-digit growth across regions Reported geographic sales split for 2020 DKK Insulin GLP-1 Other diabetes Obesity care Rare disease Growth at CER billion 80 14% 14% 70 Interna
Slide 21: Sales growth of 14% driven by all therapy areas
21 Annual General Meeting 24 March 2022 Novo Nordisk® Sales growth of 14% driven by all therapy areas Reported therapy area sales and growth North America Operations International Operations Growth at CER DKK billion 14% 32% 1% 55% 4% 150 100 14% 50 3% 14% 52% IO 6% IO 52% NAO 6% 25% NAO 57% -9% 0 1
Slide 22: Wegovy has the potential to unlock the obesity market
22 Annual General Meeting 24 March 2022 Novo Nordisk® Wegovy® has the potential to unlock the obesity market Reported obesity sales split in operational units Branded anti-obesity medicine total prescriptions in the US DKK billion TRx count (000s) 3.0 42%1 3%1 55%1 90% 48 78% 40 2.4 60% 32 1.8 24 1.
Slide 23: Expectation to meet demand in the US for Wegovy in second half of 2022
23 Annual General Meeting 24 March 2022 Novo Nordisk® The expectation is to be able to meet demand in the US for Wegovy® in the second half of 2022 Wegovy® simplified manufacturing process Update on supply chain situation • Production expected to be initiated in the second quarter of 2022 Ramp up on
Slide 24: Novo Nordisk increased market share in the fast-growing US GLP-1 diabetes segment
24 Annual General Meeting 24 March 2022 Novo Nordisk® Novo Nordisk increased market share in the fast-growing US GLP-1 diabetes segment GLP-1 TRx market size and market share in the US TRx share ® ® 70% Ozempic Rybelsus® dulaglutide NN GLP-1 Victoza 60% Class growth around 30% 53.3% 50% 40% 30% 20%
Slide 25: Key R&D milestones expected for 2022
25 Annual General Meeting 24 March 2022 Novo Nordisk® Key R&D milestones expected for 2022 Regulatory feedback from the US FDA on Ozempic® 2.0 mg Diabetes care Phase 3 results for once-weekly insulin icodec (six ONWARDS trials) Phase 2 results for CagriSema in type 2 diabetes Obesity care Phase 3a i
Slide 26: Strategic aspirations 2025
26 Annual General Meeting 24 March 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 • Being r
Slide 27: novo nordisk
O oe novo nordisk
Slide 28: Agenda item 2: Consolidated income statement
28 Annual General Meeting 24 March 2022 Novo Nordisk® Agenda item 2 | Consolidated income statement In DKK million 2021 2020 Change Sales 140,800 126,946 11% Cost of goods sold (23,658) (20,932) 13% Sales and distribution costs (37,008) (32,928) 12% Research and development costs (17,772) (15,462) 1
Slide 29: Agenda item 2: Consolidated balance sheet per 31 December
29 Annual General Meeting 24 March 2022 Novo Nordisk® Agenda item 2 | Consolidated balance sheet per 31 December 2021 Assets Equity and liabilities (DKK million) 2021 2020 (DKK million) 2021 2020 Non-current assets 108,913 79,113 Equity 70,746 63,325 Inventories, trade receivables and other 74,875 5
Slide 30: Agenda item 2: Attractive capital allocation to shareholders
30 Annual General Meeting 24 March 2022 Novo Nordisk® Agenda item 2 | Attractive capital allocation to shareholders Annual cash return to shareholders DKK billion 50 40 22 20 30 15 17 20 8 8 7 10 14 16 12 13 0 1 2019 2020 2021 2022E Dividend Interim dividend Share repurchase 1 For 2022, expected fre
Slide 31: Agenda item 2: Financial outlook for 2022
31 Annual General Meeting 24 March 2022 Novo Nordisk® Agenda item 2|Financial outlook for 2022 Expectations 2 February 2022 Sales growth – at CER 6% to 10% Sales growth - reported Around 5 percentage points higher Operating profit growth – at CER 4% to 8% Operating profit growth - reported Around 7
Slide 32: Agenda item 3: Resolution to distribute the profit
32 Annual General Meeting 24 March 2022 Novo Nordisk® Agenda item 3|Resolution to distribute the profit according to the adopted Annual Report 2021 DKK million 2021 Net profit in the parent company, Novo Nordisk A/S 47,523 Proposed appropriation Interim dividend for the year – DKK 3.50 paid in Augus
Slide 33: novo nordisk
O oe novo nordisk
Slide 34: Agenda item 4: Presentation and advisory vote on the Remuneration Report 2021
34 Annual General Meeting 24 March 2022 Novo Nordisk® Agenda item 4|Presentation and advisory vote on the Remuneration Report 2021 Remuneration Policy 2021 Remuneration Report 2021 CEO remuneration for 2021 1The graph does not reflect the potential adjustment after three-years vesting. STI: Short-te
Slide 35: Agenda item 4: Incentive programmes supporting Strategic Aspirations 2025
35 Annual General Meeting 24 March 2022 Novo Nordisk® Agenda item 4| The incentive programmes are supporting the Strategic Aspirations 2025 Short-term incentive programme 2021 Long-term incentive programme 2021
Slide 36: Agenda item 5.1: Approval of the remuneration of the Board for 2021
36 Annual General Meeting 24 March 2022 Novo Nordisk® Agenda item 5.1|Approval of the remuneration of the Board of Directors for 2021 Audit Nomination Remuneration R&D Board Committee Committee Committee Committee Multiplier DKK Multiplier DKK Multiplier DKK Multiplier DKK Multiplier DKK Chair 3.00
Slide 37: Agenda item 5.2: Approval of the remuneration level for 2022
37 Annual General Meeting 24 March 2022 Novo Nordisk® Agenda item 5.2|Approval of the remuneration level for 2022 Audit Nomination Remuneration R&D Board Committee Committee Committee Committee Multiplier DKK Multiplier DKK Multiplier DKK Multiplier DKK Multiplier DKK Chair 3.00 2,265,000 1.00 755,0
Slide 38: novo nordisk
O oe novo nordisk
Slide 39: Agenda
39 Annual General Meeting 24 March 2022 Novo Nordisk® 1. The Board of Directors’ oral report on the company’s activities in the past financial year 2. Presentation and adoption of the audited Annual Report 2021 3. Resolution to distribute the profit according to the adopted Annual Report 2021 Agenda
Slide 40: Agenda item 6: Election of members to the Board of Directors
40 Annual General Meeting 24 March 2022 Novo Nordisk® Agenda item 6|Election of members to the Board of Directors Election of members to the Board of Directors, including chair and vice chair • Item 6.1 Election of chair • Item 6.2 Election of vice chair • Item 6.3 Election of other members to the B
Slide 41: novo nordisk
O oe novo nordisk
Slide 42: Agenda item 6.1: Election of chair
42 Annual General Meeting 24 March 2022 Novo Nordisk® Agenda item 6.1| Election of chair Helge Lund Chair
Slide 43: Agenda item 6.2: Election of vice chair
43 Annual General Meeting 24 March 2022 Novo Nordisk® Agenda item 6.2| Election of vice chair Henrik Poulsen Vice chair
Slide 44: Agenda item 6.3: Election of other members to the Board of Directors
44 Annual General Meeting 24 March 2022 Novo Nordisk® Agenda item 6.3| Election of other members to the Board of Directors Jeppe Christiansen Laurence Debroux Andreas Fibig Sylvie Grégoire Kasim Kutay Martin Mackay
Slide 45: Agenda item 6.3: Election of members of Board of Directors
45 Annual General Meeting 24 March 2022 Novo Nordisk® Agenda item 6.3| Election of members of Board of Directors Christina Law Positions and management duties in other enterprises: Board committee memberships in other enterprises: • Group CEO and member of the boards of Raintree • Nomination and Com
Slide 46: Employee-elected members of the Board of Directors
46 Annual General Meeting 24 March 2022 Novo Nordisk® Employee-elected members of the Board of Directors Resigning members Re-elected members Newly elected members Anne Marie Stig Strøbæk* Mette Bøjer Jensen* Thomas Rantzau* Elisabeth Dahl Liselotte Hyveled* Kverneland* Christensen* Note: * marks th
Slide 47: Agenda item 7: Appointment of auditor
47 Annual General Meeting 24 March 2022 Novo Nordisk® Agenda item 7|Appointment of auditor Re-appointment of Deloitte Statsautoriseret Revisionspartnerselskab as auditor
Slide 48: novo nordisk
O oe novo nordisk
Slide 49: Agenda
49 Annual General Meeting 24 March 2022 Novo Nordisk® 1. The Board of Directors’ oral report on the company’s activities in the past financial year 2. Presentation and adoption of the audited Annual Report 2021 3. Resolution to distribute the profit according to the adopted Annual Report 2021 Agenda
Slide 50: Agenda item 8: Proposals from the Board of Directors and/or shareholders
50 Annual General Meeting 24 March 2022 Novo Nordisk® Agenda item 8|Proposals from the Board of Directors and/or shareholders Proposals from the Board of Directors and shareholders • Item 8.1 Reduction of the Company’s B share capital • Item 8.2 Authorisation to the Board of Directors to repurchase
Slide 51: Agenda item 8.1: Reduction of the Company's B share capital
51 Annual General Meeting 24 March 2022 Novo Nordisk® Agenda item 8.1|Reduction of the Company’s B share capital Proposal • Reduction of the Company’s B share capital from DKK 354,512,800 to 348,512,800 by cancellation of part of the Company’s own holding of B shares at a nominal value of DKK 6,000,
Slide 52: Agenda item 8.2: Authorisation to repurchase own shares
52 Annual General Meeting 24 March 2022 Novo Nordisk® Agenda item 8.2|Authorisation to the Board of Directors to repurchase own shares Proposal • Authorisation of the Board of Directors, until the Annual General Meeting in 2023, to allow the Company to repurchase own shares of up to 10% of the share
Slide 53: Agenda item 8.3: Authorisation to increase the share capital
53 Annual General Meeting 24 March 2022 Novo Nordisk® Agenda item 8.3|Authorisation to the Board of Directors to increase the share capital Proposal • Extend the authorisations to issue new shares with or without pre-emptive rights for existing shareholders for a period of one year until 24 March 20
Slide 54: Agenda item 8.4: Amendments to the Remuneration Policy
54 Annual General Meeting 24 March 2022 Novo Nordisk® Agenda item 8.4|Amendments to the Remuneration Policy Proposals • To accommodate Novo Nordisk’s payment of contribution to social security taxes imposed by foreign authorities also outside the EU in relation to Board remuneration • To remove the
Slide 55: Agenda item 8.5: Amendments to the Articles of Association
55 Annual General Meeting 24 March 2022 Novo Nordisk® Agenda item 8.5|Amendments to the Articles of Association Proposal • To remove 70 year-age limit for Board members
Slide 56: novo nordisk
O oe novo nordisk
Slide 57: Agenda item 9: Any other business
57 Annual General Meeting 24 March 2022 Novo Nordisk® Agenda item 9|Any other business
Slide 58: novo nordisk
O oe novo nordisk