Novo Nordisk Q1 2023 Earnings Call: GLP-1 Portfolio Update
This morning Novo hosted their quarterly earnings call. Here are the bullet points affecting their Obesity and Diabetes GLP-1 treatments.
Novo Nordisk's GLP-1 portfolio had a strong sales performance in Q1 2023, with revenue growth of 28% for the GLP-1 segment compared to the same period last year.
The company sees GLP-1 as a key growth driver, not just in diabetes but also in obesity and other areas, and plans to invest in R&D to expand the use of this class of drugs.
Novo Nordisk recently submitted an application to the FDA for a new GLP-1 formulation that can be administered subcutaneously once a month.
The SURPASS-5 trial showed that once-weekly Semaglutide was superior to once-daily oral Semaglutide in reducing HbA1c in people with type 2 diabetes, with a reduction of 1.9% compared to 1.5% for the oral formulation.
The STEP 5 trial showed that Semaglutide had significant weight loss effects in people with obesity and no diabetes, with an average weight loss of 17.8% compared to 5.7% for placebo.
Novo Nordisk plans to file for regulatory approval of Semaglutide in obesity in the EU later this year.
The launch of Rybelsus, the company's oral GLP-1 treatment, has been successful and has contributed to growth in the diabetes segment, with sales growth of 47% compared to the same period last year.
Rybelsus has been well-received by both patients and physicians, with over 250,000 patients treated globally since launch.
Novo Nordisk is continuing to invest in marketing and education efforts to increase awareness and adoption of Rybelsus, including a direct-to-consumer campaign in the US.
Wegovy, Novo Nordisk's once-weekly injectable GLP-1 for chronic weight management, has been well-received since its launch in the US in June 2021, with sales of DKK 1.5 billion in Q1 2023.
The company sees Wegovy as a significant growth opportunity, as the obesity market is large and underserved, and plans to launch the drug in additional markets in the coming months.
Novo Nordisk is investing in marketing and education efforts to increase awareness and adoption of Wegovy, including a direct-to-consumer campaign in the US.
Ozempic, Novo Nordisk's once-weekly injectable GLP-1 treatment for type 2 diabetes, continues to perform well and has seen increased demand, with sales growth of 20% in Q1 2023 compared to the same period last year.
The company is investing in marketing and education efforts to increase awareness and adoption of Ozempic, including through its "No More Waiting" campaign aimed at helping people with diabetes start treatment sooner.
Novo Nordisk plans to launch Ozempic in additional markets in the coming months, including Japan and China.