Novo Nordisk Reports Strong H1 2020 Results: China Revenue Reaches RMB 8.08 Billion, Semaglutide Sales Hit USD 1.5 Billion

Text | Baihuawen

On August 6, Novo Nordisk announced its financial results for the first half of 2020, with total revenue reaching DKK 63.881 billion (approximately USD 10.178 billion), a year-on-year increase of 7%. Among this, revenue from China amounted to DKK 7.287 billion (approximately RMB 8.077 billion), representing a year-on-year growth of 12%.

Specifically, performance in China was primarily driven by the diabetes care business (+11%) and the modern insulin and biopharmaceuticals business (+46%). Among these, revenue from long-acting insulin Levemir in the Chinese market amounted to DKK 559 million (+12%), revenue from premixed insulin NovoMix in the Chinese market reached DKK 2.448 billion (+13%), revenue from ultra-rapid-acting insulin NovoRapid in the Chinese market totaled DKK 1.055 billion (+20%), revenue from the GLP-1 drug Victoza in the Chinese market stood at DKK 501 million (+18%), and revenue from the hemophilia drug NovoSeven in the Chinese market amounted to DKK 207 million (+48%).

Novo Nordisk announced on April 27 the launch of its “China Co-Creation” initiative, aimed at accelerating the market launch of multiple innovative drugs in China before 2025. After 2025, more than 90% of its global innovative drugs will be submitted for regulatory approval in China simultaneously with other major markets. Currently, Novo Nordisk’s semaglutide injection has been submitted for marketing approval in China, while oral semaglutide is in Phase III clinical trials. Financial reports indicate that its long-acting insulin product Xultophy (insulin degludec/liraglutide) is expected to be submitted for marketing approval in China in Q3 2020.

Novo Nordisk’s insulin business generated total sales revenue of DKK 29.52 billion (-3%) in the first half of the year, including Tresiba sales of DKK 4.618 billion (-1%), premixed insulin NovoMix sales of DKK 4.977 billion (+3%), and ultra-rapid-acting insulin NovoRapid sales of DKK 8.817 billion (-5%). The GLP-1 business recorded revenue of DKK 19.40 billion (+28%) in the first half of the year, with Victoza sales amounting to DKK 9.225 billion (-18%), Ozempic sales reaching DKK 9.591 billion (+156%), and Rybelsus sales totaling DKK 584 million. Sales of the weight-loss product Saxenda reached DKK 2.885 billion (+9%). Sales of the hemophilia drug NovoSeven amounted to DKK 4.009 billion (-5%).

The financial report shows that the market share of GLP-1 drugs in the entire diabetes field has increased from 16.1% twelve months ago to 20.1%. Among them, Novo Nordisk’s Victoza, Ozempic, and Rybelsus account for 49.1% of the global GLP-1 drug market share, an increase of 2.7% compared to twelve months ago.