Denmark-based pharmaceutical giant Novo Nordisk (CPH: NOVO-B) reported a substantial 24% year-on-year (YOY) increase in global sales for the first quarter of 2024, reaching DKK 65.3 billion (USD 9.4 billion) at constant exchange rates (CER). The growth was primarily attributed to strong performances in glucagon-like peptide-1 (GLP-1)-based drugs and obesity treatments.
In the diabetes care segment, sales of GLP-1 therapies soared 32% YOY to DKK 35.0 billion (USD 5.0 billion). Notably, Ozempic (semaglutide) saw a 43% increase in sales, reaching DKK 27.8 billion (USD 4.0 billion), while Rybelsus (the oral form of semaglutide) experienced a 17% rise in sales. The insulin portfolio also performed well, with a 9% YOY increase to DKK 14.4 billion (USD 2.1 billion). However, the obesity care segment experienced a 42% increase to DKK 49.9 billion (USD 7.2 billion), while sales for rare diseases declined by 3% to DKK 4.4 billion (USD 632 million).
Geographically, Novo Nordisk expanded its presence significantly, with a 35% YOY increase in North America to DKK 39.3 billion (USD 5.7 billion), followed by a 13% increase in Europe, the Middle East, and Africa to DKK 14.3 billion (USD 2.1 billion). In China, sales grew by 7% to DKK 4.5 billion (USD 649 million), and in the rest of the world, an 8% increase was recorded, amounting to DKK 7.2 billion (USD 1.0 billion).
In China, growth was propelled by a 14% YOY increase in insulin sales and a 10% rise in GLP-1 product sales, driven by Ozempic. These gains compensated for significant drops of 51% in obesity care and 77% in rare diseases, which were partially attributed to periodic supply constraints.- Flcube.com
