Novo Nordisk A/s Class B · OMXCOP:NOVO_B
Novo Nordisk A/s Class B — FY2018 Earnings Presentation
20 slides from Novo Nordisk A/s Class B's earnings presentation, Feb 1, 2019
Slide 1: Conference call Full year 2018
Slide 1 Conference call Full year 2018
Slide 2: Agenda
Conference call Full year 2018 Slide 2 Agenda Highlights and key events Sales update R&D update Financials and outlook
Slide 3: Forward-looking statements
Conference call Full year 2018 Slide 3 Forward-looking statements Novo Nordisk’s reports filed with or furnished to the US Securities and Exchange Commission (SEC), including this presentation as well as the company’s statutory Annual Report 2018 and Form 20-F, which are both filed with the SEC in F
Slide 4: Highlights – Full year 2018
Conference call Full year 2018 Slide 4 Highlights – Full year 2018 Sales development • Sales were broadly unchanged in Danish kroner and increased by 5% in local currencies to DKK 111.8 billion • International Operations sales increased by 2% in Danish kroner and by 7% in local currencies • North Am
Slide 5: Sales growth of 5% mainly driven by Victoza, Ozempic and Saxenda
Conference call Full year 2018 Slide 5 Sales growth of 5% mainly driven by Victoza®, Ozempic® and Saxenda® Sales as reported – full year 2018 Growth break down – full year 2018 Growth Other Local currencies Growth Share of growth disorders biopharmaceuticals Long-acting insulin1 (2%) (7%) 3% (11%) P
Slide 6: Sales growth is primarily driven by 18% growth in GLP-1 sales
Conference call Full year 2018 Slide 6 Sales growth is primarily driven by 18% growth in GLP-1 sales, while global insulin sales are broadly unchanged 2018 reported sales split and local currency 2018 added sales and local currency growth for growth for NAO and IO NAO and IO Insulin GLP-1 Other diab
Slide 7: Ozempic gains market share and is now launched in 11 countries
Conference call Full year 2018 Slide 7 Ozempic® gains market share and is now launched in 11 countries USA GLP-1 NBRx Canada GLP-1 NBRx European1 GLP-1 volume market share market share market share NN GLP-1 Victoza® Ozempic® dulaglutide exenatide albiglutide Weekly Monthly Monthly NBRx share NBRx sh
Slide 8: In the USA, Victoza CV indication and Ozempic launch contribute to GLP-1 market growth
Conference call Full year 2018 Slide 8 In the USA, Victoza® CV indication and Ozempic® launch contribute to the 27% GLP-1 market growth USA GLP-1 TRx market development USA GLP-1 volume market share Annual market growth (RHS)1 Exenatide ER NN GLP-1 dulaglutide Quarterly Monthly Other GLP-1s Ozempic®
Slide 9: Tresiba has since launch gained around 15% market share in the USA
Conference call Full year 2018 Slide 9 Tresiba® has since launch gained around 15% market share in the USA Weekly TRx volume market shares1 in the USA Tresiba® in the USA glargine U100 NN total basal2 Levemir® • Novo Nordisk basal insulin volume market share is now Basal volume Tresiba® glargine U30
Slide 10: Saxenda sales increased by 60% in 2018 and continues to gain market share
Conference call Full year 2018 Slide 10 Saxenda® sales increased by 60% in 2018 and continues to gain market share in the global anti-obesity market Solid Saxenda® sales growth since launch Continued global roll-out of Saxenda® DKK North America Operations International Operations • Novo Nordisk is
Slide 11: Biopharm strategy focus on in-market execution and innovation
Conference call Full year 2018 Slide 11 Biopharm strategy focus on in-market execution as well as internal and external innovation Broadly unchanged biopharm sales driven by Norditropin® and NovoEight® ‘Return to growth’ strategy on track DKK Succeeded in-market despite competition in the inhibitor
Slide 12: Completed PIONEER programme showed consistent reductions in HbA1c and body weight
Conference call Full year 2018 Slide 12 Completed PIONEER programme showed consistent statistically significant reductions in HbA1c and body weight Oral semaglutide lowered HbA1c by 1.0–1.8%- Oral semaglutide lowered body weight by points by end of trial1 ~2–5 kg by end of trial1 Mean change in HbA1
Slide 13: Oral semaglutide ready for regulatory filing following PIONEER 6
Conference call Full year 2018 Slide 13 Oral semaglutide ready for regulatory filing following the successful completion of the CV safety trial, PIONEER 6 Headline results for PIONEER 6 Regulatory update for oral semaglutide • The trial met the primary endpoint1 by demonstrating non- • Oral semaglut
Slide 14: Key development milestones
Conference call Full year 2018 Slide 14 Key development milestones • Completion of the phase 3a PIONEER programme for oral semaglutide, following successful completion of PIONEER 6 and 9 • Oral semaglutide ready for regulatory filing. Filing expected in the USA around end-Q1 2019 with use of Diabete
Slide 15: R&D milestones in 2019
Conference call Full year 2018 Slide 15 R&D milestones in 2019 Clinical milestones1 Regulatory milestones1 Project Q1 2019 Q2 2019 Q3 2019 Q4 2019 Phase 3b results Tresiba® ✓ (vs glargine U300) US submission Ozempic® (CV label update) Anti-IL-21 Phase 2 results LAI287 Phase 2 results LAIsema Phase 1
Slide 16: Financial results – Full year 2018
Conference call Full year 2018 Slide 16 Financial results – Full year 2018 Change Change In DKK million 2018 2017 (reported) (local currency) Sales 111,831 111,696 0% 5% Gross profit 94,214 94,064 0% Gross margin 84.2% 84.2% Sales and distribution costs 29,397 28,340 4% 7% Percentage of sales 26.3%
Slide 17: Financial outlook for 2019 including adjusted LTFTs
Conference call Full year 2018 Slide 17 Financial outlook for 2019 including adjusted LTFTs Expectations 1 Feb 2019 Sales growth - local currencies 2% to 5% Sales growth - reported Around 2 percentage points higher Operating profit growth - local currencies 2% to 6% Operating profit growth - reporte
Slide 18: Cash return to shareholders in 2019
Conference call Full year 2018 Slide 18 Cash return to shareholders in 2019 Annual cash return to shareholders Cash return priorities DKK Share repurchase Interim dividend Dividend • New share repurchase programme of up to DKK 15 billion billion Free cash flow Free cash flow guidance to be executed
Slide 19: Key take-aways – Full year 2018
Conference call Full year 2018 Slide 19 Key take-aways – Full year 2018 Diabetes franchise grew 4% and Novo Nordisk retains world leader position with a market share of 27.9% (27.4% in 2017) • Insulin sales were flat and Novo Nordisk has expanded its volume market leader position to 46.4% insulin ma
Slide 20: Investor contact information
Conference call Full year 2018 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 York Stock Exchange