Novo Nordisk, the Danish pharmaceutical giant, announced this morning that it closed 2024 with sales up 25% in Danish kroner and by 26% at constant exchange rates to DKK 290,4 billion (almost EUR 39 billion).
The operating profit increased by 25% in Danish krone and by 26% at constant exchange rates (CER) to DKK 128,3 billion (approximately EUR 17 billion). Operating profit was positively impacted by adjustments to gross/net sales in United States and negatively by write-down losses. TheNet income was DKK 101 billion (around EUR 13,5 billion), an increase of 21%.
Il stock market title Copenhagen shares rose 614,1% to 3,63 kroner. The stock also lost 27% in December, falling to August 2023 levels, its worst decline since April 2002.
Sales still driven by drugs for diabetics and obese people
Sales within the diabetes and obesity treatment increased by 26% in Danish kroner to DKK 271,8 billion (27% at CER), mainly driven by growth in baby care sales diabetes GLP-1 by 21% in Danish kroner (22% at CER) and the growth of the treatment of obesity 56% in Danish kroner to DKK 65,1 billion (57% in CER). Sales of drugs for the treatment of rare diseases increased by 9% in both Danish kroner and CER. Diabetes drugs have also proven useful in combating obesity.
Sales in operations in North America increased by 30% in Danish kroner (30% in CER). Sales in the international operations increased by 17% in Danish kroner (19% in CER). “We are pleased with the performance in 2024, where the 26% sales growth reflects the fact that over 45 million people are now benefiting from our treatments,” commented CEO Lars Fruergaard Jorgensen.
for 2025 outlook, Novo Nordisk expects sales growth of 16-24% at CER and operating profit growth of 19-27% at CER. Sales and operating profit growth reported in Danish krone are expected to be 3 and 5 percentage points higher, respectively, than at CER. “We have completed the acquisition of the three Catalent sites and during the year we have advanced our R&D pipeline, including obesity projects such as CagriSema and amycretin,” the CEO said. “In 2025, we will continue to focus on commercial execution, advancing our early- and late-stage R&D pipeline, and expanding our manufacturing capacity.”
US Big Pharma is declining instead. Fears for Kennedy's arrival
Yesterday, however, in Walla Street, the shares of the big US pharmaceutical companies fell, driven in particular by those of the biotechnology company Moderna in free fall (-6%). In a nosedive, which presents a terrible -6,07%. Companies producing vaccines and packaged foods are suffering after President Donald Trump's choice for the Office of Secretary of Health of the United States, Robert F Kennedy Jr., she approached the task after the favorable vote of a Senate Committee.
US Senate Finance Committee vote paves the way for vote of the entire Senate to confirm him as secretary of the U.S. Department of Health and Human Services already this week. Kennedy, who had to face theopposition from health groups and Democrats, has long sown doubts about the safety and efficacy of vaccines which have helped curb disease and prevent deaths for decades.
During the his run for president of the United States as an independent, Kennedy declared that he wanted to “make America whole again,” pointing to the additives, chemicals and sugar used in the packaged foods and in sodas as responsible for chronic disease in the United States.
Pfizer fell 1,3%, along with U.S. shares of its COVID-19 vaccine partner, Biotech, which fell by 2,24%. Modern fell by 6,51% and novavax slipped 2,3% before rising 0,12%. Shares of food companies including Hershey, Mondelez, Kraft Heinz, General Mills were all down 2% yesterday.
