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Novo Nordisk’s Biopharmaceuticals Segment: An Update

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Aug. 15 2018, Updated 6:31 a.m. ET

Biopharmaceuticals segment: Revenue trends

Novo Nordisk’s (NVO) biopharmaceuticals segment generated revenues of 4.4 billion Danish kroner in the second quarter of 2018, a ~4% YoY (year-over-year) decline in local currencies.

In the first half of 2018, the biopharmaceuticals segment generated revenues of 8.7 billion Danish kroner, reflecting a ~1% YoY decline. In the first half of 2018 in the United States, Europe, AAMEO (Asia, Africa, the Middle East, and Oceania), and China, the segment generated revenues of 3.1 billion Danish kroner, 2.5 billion Danish kroner, 4 billion Danish kroner, and 113 million Danish kroner, respectively. That reflects a ~12% decline, a ~5% decline, a ~7% growth, and a ~2% decline, respectively, YoY in local currencies.

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Hemophilia segment: Revenue trends

In the second quarter of 2018, Novo Nordisk’s hemophilia segment generated revenues of 2.3 billion Danish kroner, an ~11% YoY decline.

In the first half of 2018, the segment generated revenues of 4.8 billion Danish kroner, a ~2% YoY decline. In the United States, Europe, AAMEO, and China, the segment generated revenues of 1.8 billion Danish kroner, 1.4 billion Danish kroner, 579 million Danish kroner, and 103 million Danish kroner, respectively. That reflects a ~21% decline, a ~7% decline, a ~15% growth, and a ~2% decline, respectively, YoY in local currencies.

Novo Nordisk’s hemophilia drugs NovoSeven and NovoEight reported revenues of 1.9 billion Danish kroner and 339 million Danish kroner, respectively, in the second quarter of 2018. That’s a ~14% decline and a ~15% growth, respectively, YoY in local currencies.

NovoSeven and NovoEight generated revenues of 4 billion Danish kroner and 635 million Danish kroner, respectively, in the first half of 2018. That’s a ~6% decline and a ~16% growth, respectively, YoY.

The hemophilia drugs compete with Bioverativ’s Eloctate, Pfizer’s (PFE) Xyntha, and Bayer’s (BAYZF) Helixate FS. Xyntha reported revenues of $271 million in the second quarter of 2018.

Revenue trends for growth disorders (Norditropin)

Novo Nordisk’s growth disorder segment consists of Norditropin. In the second quarter of 2018, the drug generated revenues of 1.7 billion Danish kroner, a ~9% growth YoY.

Norditropin had net revenues of 3.2 billion Danish kroner in the first half of 2018, a ~5% YoY growth in local currencies.

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