Novo Nordisk A/s Class B · OMXCOP:NOVO_B
Novo Nordisk A/s Class B — 9M 2010 Earnings Presentation
17 slides from Novo Nordisk A/s Class B's earnings presentation, November 2010
Slide 1: Investor conference call: First nine months of 2010
Investor presentation Investor conference call First nine months of 2010
Slide 2: Forward-looking statements
Investor presentation First nine months of 2010 Slide no 2 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 2009 and Form 20-F, both filed with the SEC in February 2010 as well as this
Slide 3: Agenda
Investor presentation First nine months of 2010 Slide no 3 Agenda Introduction by Lars Rebien Sørensen, CEO Sales update by Lars Rebien Sørensen, CEO R&D update by Mads Krogsgaard Thomsen, CSO Financials and outlook by Jesper Brandgaard, CFO Questions & answers session
Slide 4: Highlights and key events
Investor presentation First nine months of 2010 Slide no 4 Highlights and key events Market development • Modern insulins and Victoza® drive robust sales growth of 17% (12% in local currencies) • North America and International Operations account for more than 80% of sales growth • GLP-1 market expa
Slide 5: Key products continue to drive growth
Investor presentation First nine months of 2010 Slide no 5 Key products continue to drive growth – first nine months of 2010 Sales as reported Growth analysis Other Local currencies Growth Share of Norditropin ® +6% growth 4% +10% 8% Diabetes care Modern insulins 18% 61% NovoSeven® +20% Human insuli
Slide 6: North America drives sales growth
Investor presentation First nine months of 2010 Slide no 6 North America drives sales growth – first nine months of 2010 Sales as reported Growth analysis Japan & Korea +13% North America Local currencies Growth Share of +26% growth International 9% Operations North America 21% 60% +23% Europe 5% 13
Slide 7: Encouraging US performance of Victoza
Investor presentation First nine months of 2010 Slide no 7 Encouraging US performance of Victoza® Victoza® is gradually expanding Previous therapy regimens for new the US GLP-1 market Victoza® patients (% of patients) GLP-1 % of diabetes value market (right axis) Share of TRx Retail Value 60 5% 51%
Slide 8: Victoza continues to expand the European GLP-1 market
Investor presentation First nine months of 2010 Slide no 8 Victoza® continues to expand the European GLP-1 market Development in key European GLP-1 markets following Victoza® launch Germany UK France 7% Market value*: 7% Market value*: 7% Market value*: DKK 10 billion DKK 5 billion DKK 6 billion Dia
Slide 9: New phase 3 data show DegludecPlus to have multiple benefits compared to NovoMix
Investor presentation First nine months of 2010 Slide no 9 New phase 3 data show DegludecPlus to have multiple benefits compared to NovoMix® in type 2 diabetes Trial design: • Randomised, controlled, open label, treat-to-target trial • People with type 2 diabetes with or without OADs randomised to t
Slide 10: New phase 3 data show Degludec has the potential to offer dosing flexibility
Investor presentation First nine months of 2010 Slide no 10 New phase 3 data show Degludec has the potential to offer dosing flexibility Trial design: • Randomised, controlled, open label, treat-to-target trial • People with type 2 diabetes with or without OADs randomised to 26 weeks of treatment wi
Slide 11: First phase 3 data for liraglutide in obesity show 6 kg weight loss
Investor presentation First nine months of 2010 Slide no 11 First phase 3 data for liraglutide in obesity show 6 kg weight loss after 56 weeks treatment Trial design: • Randomised, double-blind, placebo controlled trial • Obese, non-diabetic participants, having lost ≥5% of body weight during a 4-12
Slide 12: Ultra long-acting recombinant Factor IX phase 1 trial shows FIX activity for several weeks
Investor presentation First nine months of 2010 Slide no 12 Ultra long-acting recombinant Factor IX phase 1 trial shows FIX activity for several weeks Trial design: • A multi-centre, multi-national, open-label, dose escalation trial evaluating safety and pharmacokinetics of ascending intravenous dos
Slide 13: Financial results
Investor presentation First nine months of 2010 Slide no 13 Financial results DKK million 9M 2010 9M 2009 change Sales 44,652 38,016 17% Gross profit 36,057 30,213 19% Gross margin 80.8% 79.5% Sales and distribution costs 12,921 11,183 16% Percent of sales 28.9% 29.4% Research and development costs
Slide 14: US Dollar close to 2009 average
Investor presentation First nine months of 2010 Slide no 14 US Dollar close to 2009 average 650 Spot rates Quarterly average Annual average Annual impact on operating profit of a 5% movement in USD/DKK currency (DKK million) 2010 600 USD 620 550 JPY 155 CNY 120 500 GBP 85 CAD 45 450 Q108 Q208 Q308 Q
Slide 15: Financial guidance for 2010 and preliminary plans for 2011
Investor presentation First nine months of 2010 Slide no 15 Financial guidance for 2010 and preliminary plans for 2011 Key currency rates • Sales growth expectations: DKK 2009 2010 Current per 100 average average* rate* • Now in the range of 11-12% in local currencies USD 536 565 535 • Now around 5
Slide 16: Total cash return to shareholders
Investor presentation First nine months of 2010 Slide no 16 Total cash return to shareholders - Share repurchase programme expanded by DKK 1 billion Dividend and payout ratio Annual share repurchases Dividend Payout ratio DKK billion DKK billion for prior year 5 Dividend paid 45% 10 9.5 4.4 Payout r
Slide 17: Investor information
Investor presentation First nine months of 2010 Slide no 17 Investor information Share information Investor Relations contacts Novo Nordisk’s B shares are listed on the Novo Nordisk A/S stock exchange in Copenhagen. Its ADRs are Investor Relations Novo Allé, DK-2880 Bagsværd listed on the New York S