Semaglutide sold $20.3 billion in the first three quarters! Novo Nordisk Q3 Performance Release

Semaglutide sold $20.3 billion in the first three quarters! Novo Nordisk Q3 Performance Release

On November 6th, Novo Nordisk released its Q3 2024 report, showing a 24% increase in sales for the first nine months of this year (calculated at a fixed exchange rate CER), reaching 207.7 billion Danish kroner/29.4 billion US dollars. The sales revenue in China was 14.2 billion Danish kroner/2 billion US dollars, an increase of 10%. North American business sales increased by 31% to 122.8 billion Danish kroner/17.9 billion US dollars. Operating profit increased by 22%, reaching 91.6 billion Danish kroner/13.3 billion US dollars.

Sales of diabetes and obesity drugs increased by 26% to DKK 191.8 billion/US $27.6 billion. The sales of GLP-1 diabetes products increased by 26% to DKK 107 billion/US $15.6 billion, and the sales of obesity business increased by 44% to DKK 43.7 billion/US $6.4 billion. Rare disease sales increased by 3%.

The sales volume of diabetes business in China was DKK 13.7 billion/US $2 billion, up 12%. Among them, the sales of GLP-1 type 2 diabetes products in China reached DKK 5.7 billion/USD 830 million, up 19%.

The star product Semaglutide, consisting of three brands (Ozempic hypoglycemic injection, Rybelsus hypoglycemic tablet, and Wegovy weight loss injection), achieved sales of DKK 1412 billion/USD 203 billion in the first nine months of this year, accounting for 69% of Novo Nordisk's total revenue.

Specifically:

The sales revenue of Ozempic, a hypoglycemic injection version of semaglutide, was approximately 86.5 billion Danish kroner/12.5 billion US dollars, a year-on-year increase of 32%;

The sales revenue of Rybelsus oral version of Semaglutide for lowering blood sugar was approximately 16.4 billion Danish kroner/2.4 billion US dollars, a year-on-year increase of 29%;

The sales of the Semaglutide weight reducing version of Wegovy were approximately 38.3 billion Danish kroner/5.5 billion US dollars, a year-on-year increase of 77%.

In China, Ozempic's sales reached DKK 4.7 billion/USD 700 million, a year-on-year increase of 28%.

According to the number of GLP-1 patients with diabetes and weight loss, Novo Nordisk's market share is 65%, Lilly 32% and others 3%. According to GLP-1 sales, the market share in China is 79%.

In the field of research and development, Novo Nordisk has completed a Phase 2a trial of monlunabant for the treatment of obesity, and is expected to launch a larger Phase 2b trial of monlunabant for the treatment of obesity in 2025 to further study its long-term administration and safety in the global population.

In addition, in the field of diabetes, Novo Nordisk announced that oral Semaglutide significantly reduced the risk of major adverse cardiovascular events in the SOUL cardiovascular outcome test.

In the field of semaglutide research and development, the main results of the ESSENE trial were announced. 2.4 milligrams of semaglutide were used to treat adult patients with MASH and liver fibrosis, and compared with placebo, both liver fibrosis and MASH resolution were significantly improved.

Looking ahead to 2024, sales growth is expected to be 23-27%, and operating profit growth is expected to be 21-27%.