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How Did Novo Nordisk’s Victoza and Saxendra Perform in 3Q17?

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Victoza revenue trends

In 3Q17, Novo Nordisk’s (NVO) Victoza reported revenues of 5.3 billion Danish krone (or DKK), which reflected ~9% growth on a year-over-year (or YoY) basis. In 3Q17, in the US, Europe, AAMEO, China, Japan & Korea, and Latin America, Victoza reported revenues of 3.8 billion DKK, 855 million DKK, 97 million DKK, 51 million DKK, 143 million DKK, and 123 million DKK, respectively.

Victoza reported revenues for the first nine months of 2017 (or 9M17) of 16.9 billion DKK, which reflected ~15% growth on a YoY basis. In the US, Europe, AAMEO, China, Japan & Korea, and Latin America, respectively, Victoza generated 9M17 revenues of 12.3 billion DKK, 4.2 billion DKK, 2.5 billion DKK, 669 million DKK, 212 million DKK, 432 million DKK, and 359 million DKK, respectively. Novo Nordisk’s Victoza competes with AstraZeneca’s (AZN) Byetta, Eli Lilly’s (LLY) Trulicity, and GlaxoSmithKline’s (GSK) Tanzeum.

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Saxendra revenue trends

In 3Q17, Saxendra generated revenues of 640 million DKK, which reflected ~59% growth on a YoY basis. In 3Q17, in the US, Europe, AAMEO, and Latin America, Saxendra generated revenues of 462 million DKK, 27 million DKK, 42 million DKK, and 67 million DKK, respectively. In the US market in 3Q17, Saxendra witnessed 36% growth on a YoY basis. Novo Nordisk’s Saxendra reported 9M17 revenues of 1.9 billion DKK, which reflected ~77% growth on a YoY basis.

In the US, Europe, AAMEO, and Latin America, Saxendra generated 9M17 revenues of 1.4 billion DKK, 66 million DKK, 116 million DKK, and 194 million DKK, respectively.

The growth in sales of Saxendra and Victoza could boost the Vanguard International Dividend Appreciation ETF (VIGI). Novo Nordisk makes up about ~2.0% of VIGI’s total portfolio holding.

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