Financial Report: Novo Nordisk
FY Revenues: $21.4 billion (+11%)
FY Earnings: $7.3 billion (+13%)
Comments: Operating profit increased by 8% in to $8.9 billion. Sales in International Operations increased by 12%, with sales in North America up 10%. Sales within Diabetes and Obesity care increased by 13% to $18.5 billion, driven by GLP-1 sales growth of 28% reflecting the uptake of Ozempic and Rybelsus. Obesity care sales (Saxenda and Wegovy) grew 50% to $1.3 billion and Biopharm sales increased by 1%.
 

Wegovy

In December 2021, a contract manufacturer filling syringes for Wegovy temporarily stopped deliveries and manufacturing following issues with current Good Manufacturing Practices. Consequently, fewer new weekly patient initiations are expected in the first hlf of 2022 compared to fourth quarter of 2021. Novo Nordisk still expects to be able to meet demand in the U.S. in the second half of 2022.
 
Lars Fruergaard Jørgensen, president and CEO, said, “We are very pleased with the double-digit sales growth in 2021 and the progress we have made on our Strategic Aspirations. The results reflect that almost 35 million people with diabetes are now benefiting from our treatments worldwide. In obesity, we are making progress in resolving the Wegovy supply issue and we expect to be able to meet demand from people living with obesity in the US in the second half of 2022.”