Novo Nordisk A/s Class B · OMXCOP:NOVO_B
Novo Nordisk A/s Class B — FY2011 Earnings Presentation
18 slides from Novo Nordisk A/s Class B's earnings presentation, February 2012
Slide 1: Investor conference call Full year 2011
Full year 2011 Slide no 1 Investor conference call Investor conference call Full year 2011
Slide 2: Agenda
Investor conference call Full year 2011 Slide no 2 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 3: Forward-looking statements
Investor conference call Full year 2011 Slide no 3 Forward-looking statements Novo Nordisk’s reports filed with or furnished to the US Securities and Exchange Commission (SEC), including this document as well as the company’s Annual Report 2011 and Form 20-F, both expected to be filed with the SEC i
Slide 4: Highlights - full year 2011
Investor conference call Full year 2011 Slide no 4 Highlights - full year 2011 Sales development • Sales increased by 11% in local currencies driven by Victoza® and modern insulins • Victoza® sales reached DKK 5,991 million (growth of 159% in DKK) • Healthcare reforms impacted sales growth negativel
Slide 5: Victoza and modern insulins continue to drive growth
Investor conference call Full year 2011 Slide no 5 Victoza® and modern insulins continue to drive growth – full year 2011 Sales as reported Growth analysis Other Local currencies Growth Share of Norditropin® +13% growth +5% 4% Modern insulins 11% 41% 8% Human insulins (8%) (14%) NovoSeven® +4% Victo
Slide 6: North America continues to drive sales growth
Investor conference call Full year 2011 Slide no 6 North America continues to drive sales growth – full year 2011 Sales as reported Growth analysis Region China Local currencies Growth Share of +11% growth Japan & Korea North America 18% 61% +10% 8% Europe 2% 6% 9% North America International Operat
Slide 7: Novo Nordisk continues to expand leadership position within diabetes care
Investor conference call Full year 2011 Slide no 7 Novo Nordisk continues to expand leadership position within diabetes care Global diabetes care market Global diabetes care by treatment class value market share DKK billion Novo Nordisk Lilly BMS GLP-1 Insulin OAD 30% Takeda Merck Novartis Total mar
Slide 8: Victoza reached blockbuster status in 2011
Investor conference call Full year 2011 Slide no 8 Victoza® reached blockbuster status in 2011 Reported Victoza® sales Victoza® sales split per region DKK North America Europe billion Int. Operations Japan & Korea 5% 6% 27% 62% Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 FY 2011 sales of DKK 6.0 billion 2009 2010 20
Slide 9: Victoza continues to drive the growth of the GLP-1 class in the US
Investor conference call Full year 2011 Slide no 9 Victoza® continues to drive the growth of the GLP-1 class in the US Expansion of the GLP-1 market Key observations for the US market GLP-1 TRx scripts (thousands) GLP-1 % of diabetes market value (right axis) • Close to 70% of new patients come from
Slide 10: In key European markets Victoza has expanded the GLP-1 class to nearly 10%
Investor conference call Full year 2011 Slide no 10 In key European markets Victoza® has expanded the GLP-1 class to nearly 10% of the diabetes market Development in key European GLP-1 markets following Victoza® launch Germany UK France Market value*: DKK 10 billion Market value*: DKK 5 billion Mark
Slide 11: Degludec and DegludecPlus regulatory update
Investor conference call Full year 2011 Slide no 11 Degludec and DegludecPlus regulatory update • New drug applications (NDA) submitted to FDA on 29 September 2011 USA • FDA review ongoing, PDUFA action date set for 29 July 2012 • NDA submitted to EMA on 26 September 2011 EU • EMA review ongoing, ‘D
Slide 12: Research and Development update
Investor conference call Full year 2011 Slide no 12 Research and Development update Diabetes care and obesity • Degludec and DegludecPlus regulatory process progressing according to plan in Europe, US, Japan1 Switzerland and Canada • In two 52+52 weeks extension trials in people with type 1 and type
Slide 13: Financial results – full year 2011
Investor conference call Full year 2011 Slide no 13 Financial results – full year 2011 DKK million 2011 2010 Change Sales 66,346 60,776 9% Gross profit 53,757 49,096 9% Gross margin 81.0% 80.8% Sales and distribution costs 19,004 18,195 4% Percent of sales 28.6% 29.9% Research and development costs
Slide 14: US dollar and Japanese Yen currently above 2011 average
Investor conference call Full year 2011 Slide no 14 US dollar and Japanese Yen currently above 2011 average 650 Spot rates Quarterly average Annual average Currency 2010 2011 Current assumptions1 average average rate2 600 USD/DKK USD 562 535 567 550 JPY 6.42 6.73 7.39 CNY 83 83 90 500 GBP 869 859 89
Slide 15: Cash generated is returned to shareholders in form of dividends and share buybacks
Investor conference call Full year 2011 Slide no 15 Cash generated is returned to shareholders in form of dividends and share buybacks Dividend and payout ratio Share repurchases programmes DKK Payout DKK Share repurchase programme 2007-2010 Dividend paid Payout ratio billion ratio billion Expansion
Slide 16: Financial outlook 2012
Investor conference call Full year 2011 Slide no 16 Financial outlook 2012 Expectations 2 February 2012 Sales growth - local currencies 7-11% Around 4 percentage points higher than Sales growth - reported growth in local currencies Operating profit growth - local Around 10% currencies Operating prof
Slide 17: Closing remarks
Investor conference call Full year 2011 Slide no 17 Closing remarks Solid market performance Promising pipeline • +10% annual diabetes care market growth • The only company with two new generation driven by diabetes prevalence1 insulins submitted for approval • 24% market share in diabetes care and
Slide 18: Investor information
Investor conference call Full year 2011 Slide no 18 Investor 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 York Stock Excha