Novo Nordisk A/s Class B · OMXCOP:NOVO_B
Novo Nordisk A/s Class B — H1 2010 Earnings Presentation
16 slides from Novo Nordisk A/s Class B's earnings presentation, August 2010
Slide 1: Investor conference call: First six months of 2010
Investor conference call Investor conference call First six months of 2010
Slide 2: Agenda
Investor conference call First six months of 2010 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 First six months of 2010 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 2009 and Form 20-F, both filed with the SEC in February 2010 as well as thi
Slide 4: Highlights and key events
Investor conference call First six months of 2010 Slide no 4 Highlights and key events Market development • Modern insulins drive robust sales growth of 14% (11% in local currencies) • North America and International Operations account for more than 80% of sales growth • Victoza® launched in Japan a
Slide 5: Key products continue to drive growth
Investor conference call First six months of 2010 Slide no 5 Key products continue to drive growth – first six months of 2010 Sales as reported Growth analysis Other Local currencies Growth Share of Norditropin ® +1% growth 4% +8% 8% Diabetes care Modern insulins 19% 68% NovoSeven® +16% Human insuli
Slide 6: North America drives sales growth
Investor conference call First six months of 2010 Slide no 6 North America drives sales growth – first six months of 2010 Sales as reported Growth analysis Japan & Korea 7% North America Local currencies Growth Share of +21% growth International 9% Operations North America 20% 63% +17% Europe 5% 13%
Slide 7: Limited financial impact of announced health care reforms in Europe
Investor conference call First six months of 2010 Slide no 7 Limited financial impact for Novo Nordisk of announced health care reforms in Europe Germany: • Mandatory rebate for patent protected drugs increased from 6% to 16% • Price freeze based on 2009 prices • Free pricing restricted to first 12
Slide 8: Encouraging US performance of Victoza
Investor conference call First six months of 2010 Slide no 8 Encouraging US performance of Victoza® Victoza® is gradually expanding Distribution of previous treatment for the US GLP-1 market patients on Victoza® GLP-1 % of diabetes value market (right axis) 60 4% GLP-1 TRx scripts (1000’s) 50 Other
Slide 9: First phase 3 trial confirms DegludecPlus profile is effective, safe and convenient
Investor conference call First six months of 2010 Slide no 9 First phase 3 trial confirms DegludecPlus’ profile is effective, safe and convenient Trial design: Trial design Trial results • Controlled, open label, treat-to-target trial • People with type 1 diabetes randomised for 6 months to either:
Slide 10: R&D pipeline: Diabetes and obesity
Investor conference call First six months of 2010 Slide no 10 R&D pipeline: Diabetes and obesity Compound Type Indication Status (phase) 1 2 3 Filed Appr. Degludec Ultra LA basal insulin Type 1+2 DegludecPlus Ultra LA basal insulin with a bolus boost Type 1+2 Semaglutide Once-weekly GLP-1 analogue T
Slide 11: Clinical proof of concept established for recombinant factor VIIa analogue
Investor conference call First six months of 2010 Slide no 11 Clinical proof of concept established for recombinant factor VIIa analogue Trial design: • Randomised, double-blinded, controlled, dose-escalation phase 2 trial evaluating the safety, pharmacokinetics and efficacy of NN1731, an ultra fast
Slide 12: R&D pipeline: Haemostasis
Investor conference call First six months of 2010 Slide no 12 R&D pipeline: Haemostasis Compound Type Indication Status (phase) 1 2 3 Filed Appr. NN1841 rFXIII Congenital FXIII deficiency NN7008 rFVIII Haemophilia A NN1731 Ultra FA rFVIIa analogue Haemophilia w. inhibitors NN7128 LA rFVIIa derivativ
Slide 13: Financial results
Investor conference call First six months of 2010 Slide no 13 Financial results DKK million H1 2010 H1 2009 change Sales 29,068 25,499 14% Gross profit 23,409 20,381 15% Gross margin 80.5% 79.9% Sales and distribution costs 8,348 7,681 9% Percent of sales 28.7% 30.1% Research and development costs 4
Slide 14: Key currencies above 2009 average
Investor conference call First six months of 2010 Slide no 14 Key currencies above 2009 average 650 Spot rates Quarterly average Annual average Annual impact on operating profit of a 5% movement in USD/DKK 600 currency (DKK million) 2010 USD 580 550 JPY 150 GBP 80 500 CNY 100 CAD 40 450 Q108 Q208 Q3
Slide 15: Financial guidance for 2010
Investor conference call First six months of 2010 Slide no 15 Financial guidance for 2010 • Sales growth expectations: Key currency rates • Now in the range of 9-10% in local currencies DKK 2009 2010 Current per 100 average average* rate • Now around 6 percentage points higher as reported USD 536 56
Slide 16: Investor information
Investor conference call First six months of 2010 Slide no 16 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