Novo Nordisk Reports 12% Revenue Growth in China for Q3 2020 Amid Strong Diabetes Portfolio Performance

Danish pharmaceutical company Novo Nordisk (NYSE: NVO) recently released its financial results for the third quarter of 2020. The report showed that global sales in the first three quarters reached DKK 94.8 billion ($14.81 billion), a year-on-year increase of 7% (calculated at constant exchange rates, same below). Despite the impact of the raging COVID-19 pandemic, the company maintained steady growth.

Novo Nordisk’s global insulin sales declined by 4%, whereas its glucagon-like peptide-1 (GLP-1) products for the treatment of type 2 diabetes, including Victoza (liraglutide), injectable semaglutide, and oral semaglutide, saw a robust 29% increase.

By region, international sales increased by 12% year-on-year, while North America saw a 2% year-on-year increase. The Chinese market grew by 12% year-on-year, reaching DKK 10.836 billion (USD 1.69 billion). Within this, the diabetes care portfolio grew by 12%, with growth across all diabetes medicines, particularly modern insulins; additionally, the biopharmaceuticals segment grew by 19%. NovoMix premixed insulin remained Novo Nordisk’s best-selling product in the Chinese market, with sales of DKK 1.8 billion in the first three quarters, representing a continued year-on-year increase of 14%.

According to the GBI SOURCE pharmaceutical database, in 2020, Novo Nordisk had 17 application numbers involving five products approved, including one clinical trial application and 16 supplemental applications. Among these, Semaglutide injection (semaglutide), indicated for improving intermittent claudication in adult patients with type 2 diabetes mellitus complicated by peripheral artery disease, received implicit approval for clinical trials.

For detailed product information, please visit the GBI SOURCE drug database.

Appendix: Net Sales of Novo Nordisk’s Diabetes and Obesity Treatment Drugs in the Greater China Region in 2019 (Million Danish Krone)