Diabetes products spur Novo Nordisk’s Q1 sales growth

COPENHAGEN, April 29– Novo Nordisk, Denmark’s largest pharmaceutical company, saw profits rise in the first three months of 2022, primarily propelled by higher sales of its diabetes products, the company said in a financial report released on Friday. “We are very pleased with the sales growth in the first three months of 2022 which is driven by increasing demand…

COPENHAGEN, April 29 (Xinhua) — Novo Nordisk, Denmark’s largest pharmaceutical company, saw profits rise in the first three months of 2022, primarily propelled by higher sales of its diabetes products, the company said in a financial report released on Friday.

Novo Nordisk achieved total sales of 42 billion Danish kroner (5.9 billion U.S. dollars) in the first quarter, a 24 percent increase over the same period in 2021, according to the report.

“We are very pleased with the sales growth in the first three months of 2022 which is driven by increasing demand for our GLP-1-based treatments,” said Lars Fruergaard Jorgensen, president and CEO of Novo Nordisk.

Novo Nordisk claimed to be the market leader in the global market for GLP-1, enjoying a 54 percent overall market share.

While sales in international operations increased by 18 percent at constant exchange rates (CER), the company also benefited from sales in the Region of China, which “increased by 12 percent measured in Danish kroner and by 2 percent at CER,” said the report.

Novo Nordisk is headquartered in Bagsvaerd, a residential suburb just outside Copenhagen, capital city of Denmark, and employs just under 50,000 people worldwide. Enditem