
Novo Nordisk (NOVOB DC) Q4 (DKK): Revenue 85.7bln (exp. 80.3bln), EBIT 36.74bln (exp. 33.6bln), Wegovy Sales 19.886bln (exp. 20.18bln). Proposed a final 2024 dividend of 7.93/shr. Not initiating a new buyback.
Commentary
- Expect to see continued periodic supply constraints related to drug shortage notifications across a number of products and geographies.
- Sees intensifying competition and continued pricing pressures within diabetes and obesity care.
- Cagrisema: intends to initiate a new Phase 3 trial in 2025, to file first regulatory approval in 2026.
2024 Results
- Global diabetes value market share 33.7%, unchanged Y/Y; driven by gains in North America but offset by a decline in International Operations.
- Diabetes care sales +20%, driven by growth of GLP-1-based products and insulins.
- Ozempic 120.3bln, +26%; driven by both North America Operations and International Operations.
- Rybelsus 23.3bln, +26%; driven by EMEA and Rest of World.
- Victoza 5.48bln, -36%; decline was driven by the GLP-1 diabetes market moving towards once-weekly treatments in both North America Operations and International Operations.
2025 Guidance
- Sales growth 16-24% at CER
- Operating Profit growth 19-27% at CER
- FCF 75-85bln
- CapEx 65bln
Analysis details (06:35)
- Webcast: 12:00-13:15 GMT.
05 Feb 2025 - 06:31- Important- Source: Novo Nordisk
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