Novo Nordisk A/s Class B · OMXCOP:NOVO_B
Novo Nordisk A/s Class B — Shareholder Meeting (March 2019)
44 slides from Novo Nordisk A/s Class B's shareholder meeting presentation, Mar 21, 2019
Slide 1: Novo Nordisk Annual General Meeting
Slide 1 Novo Nordisk Annual General Meeting 21 March 2019 Manato Shirley Ohara, diagnosed Adelia Stewart with has type type 1 diabetes 2 diabetes Kanagawa, Japan New Orleans, Louisiana, US
Slide 2: Slide 2
Novo Nordisk Annual General Meeting 2019 Slide 2
Slide 3: Board of Directors
Novo Nordisk Annual General Meeting 2019 Slide 3 Board of Directors Helge Lund Jeppe Christiansen Brian Daniels Andreas Fibig Sylvie Grégoire Liz Hewitt Kasim Kutay Martin Mackay Anne Marie Stig Strøbæk Mette Bøjer Jensen Thomas Rantzau Kverneland
Slide 4: Executive management
Novo Nordisk Annual General Meeting 2019 Slide 4 Executive management President & CEO Lars Fruergaard Jørgensen Research & Product Supply Commercial North America International Finance, Investor Business Biopharm & Development Strategy & Operations Operations Relations & Services & Legal Affairs Cor
Slide 5: Mogens Mogensen and Mads Melgaard
Novo Nordisk Annual General Meeting 2019 Slide 5 Mogens Mogensen and Mads Melgaard
Slide 6: Klaus Søgaard
Novo Nordisk Annual General Meeting 2019 Slide 6 Klaus Søgaard
Slide 7: Agenda - Annual General Meeting 2019
Novo Nordisk Annual General Meeting 2019 Slide 7 Agenda - Annual General Meeting 2019 1. The Board of Directors’ report on the company’s activities in the past financial year 2. Presentation and adoption of the statutory Annual Report 2018 3. Approval of remuneration of the Board of Directors for 20
Slide 8: Lars Fruergaard Jørgensen, President & CEO
Novo Nordisk Annual General Meeting 2019 Slide 8 Lars Fruergaard Jørgensen President & CEO
Slide 9: Sales growth of 5% mainly driven by Victoza, Ozempic and Saxenda
Novo Nordisk Annual General Meeting 2019 Slide 9 Sales growth of 5% mainly driven by Victoza®, Ozempic® and Saxenda® Sales as reported in 2018 Growth break down in 2018 Growth Other Local currencies Growth Share of growth disorders biopharmaceuticals Long-acting insulin1 (2%) (7%) 3% (11%) Premix in
Slide 10: 5% sales growth driven by 18% growth in GLP-1 sales
Novo Nordisk Annual General Meeting 2019 Slide 10 5% sales growth is primarily driven by 18% growth in GLP-1 sales, while insulin sales are broadly unchanged Reported sales split in 2018 and Added sales between 2018 and 2017 and local currency growth local currency growth Insulin GLP-1 Other diabete
Slide 11: Ozempic gains market share and is now launched in 11 countries
Novo Nordisk Annual General Meeting 2019 Slide 11 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 sh
Slide 12: Key milestones within development
Novo Nordisk Annual General Meeting 2019 Slide 12 Key milestones within development Oral • Successful completion of the phase 3a PIONEER programme for oral semaglutide semaglutide • Two new drug applications have been submitted to the US FDA • A supplemental new application for a cardiovascular risk
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Novo Nordisk Annual General Meeting 2019 Slide 13
Slide 14: US insulin net prices have declined, yet some patients still struggle with affordability
Novo Nordisk Annual General Meeting 2019 Slide 14 US insulin net prices have declined in recent years, yet some patients still struggle with affordability The US population by health List price and net price Affordable human insulin insurance coverage development for NovoLog® vial available Private
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Novo Nordisk Annual General Meeting 2019 Slide 15
Slide 16: Consolidated income statement
Novo Nordisk Annual General Meeting 2019 Slide 16 Consolidated income statement DKK million 2018 2017 Change Sales 111,831 111,696 0% Cost of goods sold 17,617 17,632 (0%) Sales and distribution costs 29,397 28,340 4% Research and development costs 14,805 14,014 6% Administration costs 3,916 3,784 3
Slide 17: Consolidated balance sheet per 31 December
Novo Nordisk Annual General Meeting 2019 Slide 17 Consolidated balance sheet per 31 December Assets Equity and liabilities (DKK million) 2018 2017 (DKK million) 2018 2017 Non-current assets 51,702 42,275 Equity 51,839 49,815 Inventories, trade 43,429 41,228 Non-current liabilities 4,766 5,484 receiv
Slide 18: Cash return to shareholders from 2015 to 2019
Novo Nordisk Annual General Meeting 2019 Slide 18 Cash return to shareholders from 2015 to 2019 Share repurchase Interim dividend Final dividend Free cash flow Free cash flow guidance DKK billion 40 35 30 15 17 15 25 15 20 17 8 15 7 7 10 16 5 13 11 12 12 0 2015 2016 2017 2018 2019E* *For 2019 expect
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Novo Nordisk Annual General Meeting 2019 Slide 19
Slide 20: Financial outlook for 2019 and adjusted long term financial targets
Novo Nordisk Annual General Meeting 2019 Slide 20 Financial outlook for 2019 and adjusted long term financial targets 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% Operati
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Novo Nordisk Annual General Meeting 2019 Slide 21
Slide 22: Agenda item 2
Novo Nordisk Annual General Meeting 2019 Slide 22 Agenda item 2 Presentation and adoption of the statutory Annual Report 2018
Slide 23: Agenda item 3.1
Novo Nordisk Annual General Meeting 2019 Slide 23 Agenda item 3.1 Approval of remuneration of the Board of Directors for 2018 Audit Nomination Remuneration R&D Board Committee Committee Committee Committee Multiplier DKK Multiplier DKK Multiplier DKK Multiplier DKK Multiplier DKK Chair 3.00 2,100,00
Slide 24: Agenda item 3.2
Novo Nordisk Annual General Meeting 2019 Slide 24 Agenda item 3.2 Approval of remuneration level for 2019 for the Board of Directors Audit Nomination Remuneration R&D Board Committee Committee Committee Committee Multiplier DKK Multiplier DKK Multiplier DKK Multiplier DKK Multiplier DKK Chair 3.00 2
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Novo Nordisk Annual General Meeting 2019 Slide 25
Slide 26: Agenda item 4 - Adoption of the resolution to distribute the profit
Novo Nordisk Annual General Meeting 2019 Slide 26 Agenda item 4 - Adoption of the resolution to distribute the profit according to the adopted statutory Annual Report 2018 DKK million 2018 Net profit in the parent company, Novo Nordisk A/S 38,530 Proposed appropriation Interim dividend for the year
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Novo Nordisk Annual General Meeting 2019 Slide 27
Slide 28: Agenda item 5
Novo Nordisk Annual General Meeting 2019 Slide 28 Agenda item 5 Election of members to the Board of Directors, including chair and vice chair • 5.1 Election of chair • 5.2 Election of vice chair • 5.3 Election of other members to the Board of Directors
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Novo Nordisk Annual General Meeting 2019 Slide 29
Slide 30: Helge Lund, Chair
Novo Nordisk Annual General Meeting 2019 Slide 30 Helge Lund Chair
Slide 31: Jeppe Christiansen, Vice chair
Novo Nordisk Annual General Meeting 2019 Slide 31 Jeppe Christiansen Vice chair
Slide 32: Brian Daniels, Andreas Fibig, Sylvie Grégoire, Liz Hewitt, Kasim Kutay and Martin Mackay
Novo Nordisk Annual General Meeting 2019 Slide 32 Brian Daniels, Andreas Fibig, Sylvie Grégoire, Liz Hewitt, Kasim Kutay and Martin Mackay
Slide 33: Laurence Debroux
Novo Nordisk Annual General Meeting 2019 Slide 33 Laurence Debroux Position and management duties • Group Chief Financial Officer, Executive Board Member, Heineken N.V., the Netherlands • Member of the Board of Exor N.V., the Netherlands, and of HEC Paris Business School, France Former positions • G
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Novo Nordisk Annual General Meeting 2019 Slide 34
Slide 35: Mette Bøjer Jensen, Anne Marie Kverneland, Thomas Rantzau and Stig Strøbæk
Novo Nordisk Annual General Meeting 2019 Slide 35 Mette Bøjer Jensen, Anne Marie Kverneland, Thomas Rantzau and Stig Strøbæk
Slide 36: Agenda item 6
Novo Nordisk Annual General Meeting 2019 Slide 36 Agenda item 6 Appointment of PriceWaterhouseCoopers as auditor
Slide 37: Agenda item 7
Novo Nordisk Annual General Meeting 2019 Slide 37 Agenda item 7 Proposals from the Board of Directors • Re item 7.1 – Reduction of the Company’s B share capital • Re item 7.2 – Authorisation to the Board of Directors to repurchase own shares • Re item 7.3 – Authorisation to the Board of Directors to
Slide 38: Agenda item 7.1
Novo Nordisk Annual General Meeting 2019 Slide 38 Agenda item 7.1 Reduction of the Company’s B share capital • Reduction of the Company’s B share capital from DKK 382,512,800 to DKK 372,512,800 by cancellation of part of the Company’s own holding of B shares at a nominal value of DKK 10,000,000 divi
Slide 39: Agenda item 7.2
Novo Nordisk Annual General Meeting 2019 Slide 39 Agenda item 7.2 Authorisation to the Board of Directors to repurchase own shares • Authorisation of the Board of Directors, until the Annual General Meeting in 2020, to allow the Company to repurchase own shares of up to 10% of the share capital, sub
Slide 40: Agenda item 7.3
Novo Nordisk Annual General Meeting 2019 Slide 40 Agenda item 7.3 Authorisation to the Board of Directors to increase the share capital • Extend the Board of Directors' authorisations in Article 5.3 (for employees without pre- emptive rights for shareholders) for a period of two years until 21 March
Slide 41: Agenda item 7.4
Novo Nordisk Annual General Meeting 2019 Slide 41 Agenda item 7.4 Approval of changes to the Remuneration Principles • To ensure that Novo Nordisk is able to reclaim incorrect pay-outs of incentives based on a misstatement of data regardless of whether this originates due to willful misconduct or gr
Slide 42: Agenda item 8.1
Novo Nordisk Annual General Meeting 2019 Slide 42 Agenda item 8.1 Shareholder proposal from Frank Aaen • The shareholder proposes that Novo Nordisk reduces the price of insulin and other products, if the return on equity in Novo Nordisk exceeds 7%
Slide 43: Agenda item 9
Novo Nordisk Annual General Meeting 2019 Slide 43 Agenda item 9 Any other business
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Novo Nordisk Annual General Meeting 2019 Slide 44