Novo Nordisk A/s Class B · OMXCOP:NOVO_B
Novo Nordisk A/s Class B — 9M 2011 Earnings Presentation
21 slides from Novo Nordisk A/s Class B's earnings presentation, Oct 27, 2011
Slide 1: Investor presentation - First nine months of 2011
Investor presentation - London Investor presentation First nine months of 2011
Slide 2: Agenda
Investor presentation - London First nine months of 2011 Slide no 2 Agenda Introduction by Jesper Brandgaard, CFO Sales update by Kåre Schultz, COO R&D update by Mads Krogsgaard Thomsen, CSO Financials and outlook by Jesper Brandgaard, CFO Questions & answers session
Slide 3: Forward-looking statements
Investor presentation - London First nine months of 2011 Slide no 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 2010 and Form 20-F, both expected to be filed with the SEC in Februa
Slide 4: Highlights
Investor presentation - London First nine months of 2011 Slide no 4 Highlights Sales development • Sales increased by 11% YTD in local currencies driven by Victoza® and modern insulins • Victoza® sales reached DKK 3,895 million YTD (growth of 185% in DKK YTD) • Healthcare reforms impacted sales grow
Slide 5: Victoza and modern insulins continue to drive growth
Investor presentation - London First nine months of 2011 Slide no 5 Victoza® and modern insulins continue to drive growth – first nine months of 2011 Sales as reported Growth analysis Other Local currencies Growth Share of Norditropin® +12% growth +4% 4% Modern insulins 11% 42% 8% Human insulins (8%
Slide 6: North America continues to drive sales growth
Investor presentation - London First nine months of 2011 Slide no 6 North America continues to drive sales growth – first nine months of 2011 Sales as reported Growth analysis Region China Local currencies Growth Share of +11% growth Japan & Korea North America 17% 59% +10% 8% Europe 2% 6% 9% North
Slide 7: Novo Nordisk continues to expand leadership position within diabetes care
Investor presentation - London First nine months of 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 200 30% Takeda Mer
Slide 8: Global insulin volume growth is close to 7%
Investor presentation - London First nine months of 2011 Slide no 8 Global insulin volume growth is close to 7% Regional insulin volume growth Regional insulin volume market shares North America China IO North America China Europe International Operations Europe Japan & Korea 40% 100% 6% Japan & Kor
Slide 9: Novo Nordisk maintains position in the US modern insulin segment
Investor presentation - London First nine months of 2011 Slide no 9 Novo Nordisk maintains position in the US modern insulin segment Human insulin value market shares Modern insulin value market shares Eli Lilly Novo Nordisk Class % of total Sanofi Novo Nordisk Eli Lilly Class % of total insulin mar
Slide 10: Stable US script data on all modern insulin products
Investor presentation - London First nine months of 2011 Slide no 10 Stable US script data on all modern insulin products US TRx and NBRx script volume market shares NovoLog® NovoLog® Mix Levemir® 80% 80% 80% segment (modern- and human insulin) Script volume market share of total 70% TRx NBRx TRx NB
Slide 11: Victoza continues to drive the growth of the GLP-1 class in the US
Investor presentation - London First nine months of 2011 Slide no 11 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 300 (right axis) 6% • More than 65%
Slide 12: Victoza continues to expand key European GLP-1 markets
Investor presentation - London First nine months of 2011 Slide no 12 Victoza® continues to expand key European GLP-1 markets Development in key European GLP-1 markets following Victoza® launch Germany UK France 10% Market value*: DKK 10 billion 10% Market value*: DKK 5 billion 10% Market value*: DKK
Slide 13: Victoza launched in China on 10 October 2011
Investor presentation - London First nine months of 2011 Slide no 13 Victoza® launched in China on 10 October 2011 Key notes for Victoza® China launch • Indicated for treatment of adults with type 2 diabetes as an add-on to metformin or sulphonylurea • Available to patients on a private prescription
Slide 14: Degludec and DegludecPlus submitted for approval in the EU and US
Investor presentation - London First nine months of 2011 Slide no 14 Degludec and DegludecPlus submitted for approval in the EU and US in September 2011 Key notes on filing Next steps • Submitted to the EMA on • Standard review time is 277 26 September 2011 days + clock stop Europe • Submitted to th
Slide 15: Developments within the clinical pipeline
Investor presentation - London First nine months of 2011 Slide no 15 Developments within the clinical pipeline Diabetes care and obesity • Degludec and DegludecPlus submitted to the EMA (Europe) and the FDA (US) • Levemir® approved as add-on therapy to Victoza® in Europe • Levemir® approved as basal
Slide 16: Impact of healthcare reforms on global sales
Investor presentation - London First nine months of 2011 Slide no 16 Impact of healthcare reforms on global sales Announced healthcare reforms Impact of healthcare reforms US healthcare reform First nine months of 2011 versus first nine European healthcare reforms months of 2010: • Approximately 2.5
Slide 17: Financial results – first nine months of 2011
Investor presentation - London First nine months of 2011 Slide no 17 Financial results – first nine months of 2011 DKK million 9M 2011 9M 2010 Change Sales 48,226 44,652 8% Gross profit 38,759 36,057 7% Gross margin 80.4% 80.8% Sales and distribution costs 13,617 12,921 5% Percent of sales 28.2% 28.
Slide 18: Currency assumptions and hedging
Investor presentation - London First nine months of 2011 Slide no 18 US dollar currently below 2010 average 650 Spot rates Quarterly average Annual average Currency 2010 2011 Current assumptions1 average average2 rate2 600 USD/DKK USD 562 532 537 550 JPY 6.42 6.63 7.06 CNY 83 82 84 500 GBP 869 856 8
Slide 19: Financial outlook 2011
Investor presentation - London First nine months of 2011 Slide no 19 Financial outlook 2011 Current expectations Previous expectations 27 October 2011 4 August 2011 Sales growth - local currencies 10-11% 9-11% 2.5 percentage points lower than 3 percentage points lower than growth Sales growth - repo
Slide 20: Closing remarks
Investor presentation - London First nine months of 2011 Slide no 20 Closing remarks Solid market performance Promising pipeline • +10% annual diabetes care market growth • The only company with two new driven by diabetes prevalence1 generation insulins submitted for approval in Europe and the US •
Slide 21: Investor information
Investor presentation - London First nine months of 2011 Slide no 21 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 Investor Relations on the New