Novo Nordisk's sales increased by 19% in Danish kroner and by 18% at constant exchange rates to DKK 78.1 billion in the first three months of 2025

Core Insights - The company reported a 19% increase in net sales for Q1 2025 compared to Q1 2024, reaching DKK 78.1 billion, with operating profit rising by 22% to DKK 38.8 billion [2][3] - The company has revised its full-year sales growth outlook to 13-21% at constant exchange rates (CER), down from previous expectations due to lower-than-planned penetration of branded GLP-1 treatments in the US [3][4] Financial Performance - Net sales for Q1 2025 were DKK 78,087 million, up from DKK 65,349 million in Q1 2024, reflecting a growth of 19% [2] - Operating profit increased to DKK 38,791 million, a 22% rise from DKK 31,846 million in the previous year [2] - Net profit for the quarter was DKK 29,034 million, a 14% increase from DKK 25,407 million in Q1 2024 [2] - Diluted earnings per share rose to DKK 6.53, up 15% from DKK 5.68 [2] Sales Breakdown - Sales in US Operations grew by 20% in Danish kroner and 17% at CER, while International Operations saw an 18% increase in Danish kroner and 19% at CER [4] - Sales in Diabetes and Obesity care increased by 21% to DKK 73.5 billion, driven by a 67% growth in Obesity care to DKK 18.4 billion [4] - GLP-1 diabetes sales grew by 13% in Danish kroner and 11% at CER, while Rare disease sales increased by 5% in Danish kroner and 3% at CER [4] Research and Development - The company completed the REDEFINE 2 trial for CagriSema, showing a weight loss of 15.7% in adults with obesity or overweight and type 2 diabetes [4] - The company has submitted oral semaglutide 25 mg for regulatory review to the US FDA, aiming to be the first oral GLP-1 treatment for obesity [4] - Regulatory submissions for once-weekly semaglutide 2.4 mg have been made in both the EU and US, with priority review granted in the US [4] Outlook - The updated sales growth outlook for 2025 is now expected to be 3 to 5 percentage points lower than previously anticipated when reported in Danish kroner [4] - The company is focused on addressing the challenges posed by compounded GLP-1 treatments in the US and expanding access to its products [3][4]