By Fineline Cube 
Denmark-based Novo Nordisk (NYSE: NVO, CPH: NOVO-B) released its Q1 2025 earnings report this week. The company achieved 18% year-on-year (YOY) growth in constant exchange rates (CER) to DKK 78.1 billion (USD 11.9 billion) in global revenues. Operating profit increased by 20% to DKK 38.8 billion (USD 5.9 billion).
Geographical Sales Performance
- US Operations: Sales increased by 17% to DKK 44.3 billion (USD 6.7 billion), accounting for 53% of total revenue.
- European and Canadian Markets: Revenue reached DKK 14.765 billion (USD 2.2 billion), with a 13% YOY increase.
- Emerging Markets: Generated DKK 8.79 billion (USD 1.3 billion) in sales, up 24% YOY.
- APAC Region: Achieved revenue of DKK 4.594 billion (USD 7 billion) with 25% growth.
- Chinese Market: Recorded sales of DKK 5.622 billion (USD 852 million), showing a 22% YOY increase. This growth was driven by:
- Weight-loss product sales: DKK 704 million (USD 107 million)
- GLP-1 anti-diabetic drug sales: +26% YOY
- Insulin sales revenue: Unchanged
- Rare disease therapies sales: +157% YOY
Product Category Sales
- GLP-1 Formulations: Global sales of DKK 39.574 billion (USD 5.99 billion), up 11% YOY.
- Ozempic (semaglutide): DKK 32.721 billion (USD 4.96 billion, +15%)
- Victoza (liraglutide): DKK 1.158 billion (USD 175.5 million, -46%)
- Insulin: Sales amounted to DKK 14.997 billion (USD 22.7 billion), a 3% YOY increase.
- Weight-Loss Drugs: Surged to DKK 18.424 billion (USD 2.78 billion), up 65% YOY.
- Wegovy (semaglutide): DKK 17.36 billion (USD 2.63 billion, +83%)
- Saxenda (liraglutide): DKK 1.064 billion (USD 161.2 million, -35%)
China Market Highlights
In Mainland China, GLP-1 anti-diabetic formulations dominated with an 80.9% market share, significantly higher than in other markets. Sales during the reporting period reached DKK 1.801 billion (USD 273 million), up 26% YOY.
Strategic Decision
Novo Nordisk has decided to terminate the Phase I clinical trial of the once-weekly oral semaglutide formulation due to portfolio considerations.-Fineline Info & Tech