Denmark-based Novo Nordisk (NYSE: NVO) released its H1 2022 financial results, reporting a 14% year-on-year (YOY) increase in global sales to DKK83.3 billion (USD11.42 billion) in constant exchange rate terms. The company saw strong sales growth in International Operations, up 10% YOY, and in North America, up 24% YOY.
Diabetes and Obesity Care
Sales in Diabetes and Obesity care rose by 19% to DKK72.7 billion (USD9.96 billion), driven by a 45% expansion in GLP-1 diabetes drugs. Obesity care sales grew by 84%, with Wegovy (semaglutide) expected to be fully available in all dose strengths in the US by the end of 2022.
China Region
In Region China (excluding Hong Kong and Taiwan), diabetes product sales fell by 7% YOY to DKK8.032 billion (USD1.1 billion), primarily due to a 17% YOY drop in insulin sales impacted by the sixth volume-based procurement (VBP) round focused on insulins. However, GLP-1 drugs sales grew by 83% YOY to DKK1.67 billion (USD288.8 million), mainly due to Ozempic (semaglutide) being included in the National Reimbursement Drug List (NRDL) from January 2022. The GLP-1 class share of the overall diabetes market value in Region China increased to 7.8% from 4.2% a year ago. Overall, China sales reached DKK8.4 billion (USD1.15 billion), down by 5% YOY.-Fineline Info & Tech
