novo nordisk a focused global healthcare company with biotech expertise investor presentation spring...
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Novo NordiskNovo Nordisk
A focused global healthcare company A focused global healthcare company with biotech expertisewith biotech expertise
Investor Presentation Investor Presentation Spring 2001Spring 2001
Novo Nordisk TodayNovo Nordisk Today
Consistent, strong organic growthConsistent, strong organic growth
Focused on few therapeutic areas with large unmetFocused on few therapeutic areas with large unmetmedical needsmedical needs
Leadership in diabetes care and haemostasis Leadership in diabetes care and haemostasis managementmanagement
Strong presence in Europe and Japan, strong Strong presence in Europe and Japan, strong growth in the USgrowth in the US
Proven biotech and drug delivery capabilitiesProven biotech and drug delivery capabilities
Low exposure to patent expirationsLow exposure to patent expirations
Track record of delivering on promisesTrack record of delivering on promises
0
5
10
15
20
25
1997 1998 1999 2000
0
5
10
15
20
25
1997 1998 1999 2000
Turnover by TherapyTurnover by Therapy
DKK billionDKK billion
Key
ob
serv
atio
ns:
Key
ob
serv
atio
ns:
Dia
be
tes
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as
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ore
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Coagulation disorders Coagulation disorders
Diabetes care Diabetes care
Human growth hormone Human growth hormone
HRTHRT
OtherOther
0
5
10
15
20
25
1997 1998 1999 2000
0
5
10
15
20
25
1997 1998 1999 2000
USAUSA
EuropeEurope
JapanJapan
RoWRoW
Turnover by RegionTurnover by Region
DKK billionDKK billion
Key
ob
serv
atio
ns:
Key
ob
serv
atio
ns:
Sta
ble
un
de
rlyi
ng
gro
wth
S
tab
le u
nd
erl
yin
g g
row
th
in E
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an
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ap
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Incr
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Incr
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th
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Long-term Financial Targets Long-term Financial Targets
Targets set out in 1996Targets set out in 1996
EBIT growth of 15% per annumEBIT growth of 15% per annum
EBIT margin of 20%EBIT margin of 20%
RONFA of 20%RONFA of 20%
Positive cash flowPositive cash flow
All targets All targets met by 2000met by 2000
Observations from 2000 Observations from 2000
EBIT growth of 37%EBIT growth of 37%
EBIT margin of 23.1%EBIT margin of 23.1%
RONFA of 27.5%RONFA of 27.5%
Free cash flow of DKK 2,712 Free cash flow of DKK 2,712 millionmillion
HRTHRTHuman growth Human growth hormonehormone
Intellectual Intellectual propertyproperty
Diabetes careDiabetes care Coagulation Coagulation disordersdisorders
PrimaryPrimarygrowth growth driversdrivers
Secondary value
drivers
Novo Nordisk – Future Key DriversNovo Nordisk – Future Key Drivers
HRTHRTHuman growth Human growth hormonehormone
Intellectual Intellectual propertyproperty
Diabetes careDiabetes care Coagulation Coagulation disordersdisorders
PrimaryPrimarygrowth growth driversdrivers
Secondary value
drivers
Novo Nordisk – Future Key DriversNovo Nordisk – Future Key Drivers
Diabetes – an Unfolding EpidemicDiabetes – an Unfolding Epidemic
world wide will reach 300 world wide will reach 300 million by 2025million by 2025World Health Organisation, World Health Organisation, September 1998September 1998
WHO estimates that the number of diabetics WHO estimates that the number of diabetics
The cost of treating people The cost of treating people with diabetes is expected towith diabetes is expected to
Increase in the number of people Increase in the number of people with diabetes from 150 million with diabetes from 150 million tto o
220 million – 10 years from now – 220 million – 10 years from now – yearly growth of 3.9%.yearly growth of 3.9%.
Source: Amos A.., McCarty DJ, Source: Amos A.., McCarty DJ, Zimmet P: Diabet. Med. 1997; 14Zimmet P: Diabet. Med. 1997; 14
150150
220220
20002000 20102010 amount to about USD 1 trillion annually – in the amount to about USD 1 trillion annually – in the US in 2025US in 2025Dr G Bernstein, former president of ADADr G Bernstein, former president of ADA
5050
150150
00
2525
5050
7575
100100
125125
150150
175175
Estimated number Estimated number of diagnosed of diagnosed
people people with diabeteswith diabetes
Estimated number Estimated number of people with of people with
diabetesdiabetes
Increased Increased rate of rate of
diagnosis will diagnosis will lead to lead to
increased use increased use of insulinof insulin
Only about One Third are DiagnosedOnly about One Third are Diagnosed
Treatment MattersTreatment Matters
Only a small number of Only a small number of patients are in controlpatients are in control
Intensive treatment mattersIntensive treatment matters
Distrib
utio
n o
f D
istribu
tion
of
patien
tsp
atients
HbA1cHbA1c
* Measured according to * Measured according to Guidelines for Diabetes Care, IDF Europe Guidelines for Diabetes Care, IDF Europe
** According to epidemiological analysis of the UKPDS data, 1998** According to epidemiological analysis of the UKPDS data, 1998
HbA1c lowering by one HbA1c lowering by one percentage point reduces percentage point reduces
micro vascular risk by 35%**micro vascular risk by 35%**
Close to 80% are exposed to Close to 80% are exposed to
arterial or micro vascular risk*arterial or micro vascular risk*
00
2020
4040
6060
8080
100100
120120
140140
160160
180180
1995
1995
1996
1996
1997
1997
1998
1998
1999
1999
2000
2000
Long actingLong acting PremixesPremixes Short actingShort acting
More Intensive Treatment More Intensive Treatment
The share of sales of The share of sales of short-acting and pre-short-acting and pre-mixable insulin has mixable insulin has
increased increased substantiallysubstantially
Note: Numbers are all MAT Q3 Note: Numbers are all MAT Q3
+3%+3%+6%+6% +4%+4%
+7%+7%+9%+9%
24%24%
39%39%
37%37%
49%49%
32%32%
19%19%
This indicates This indicates intensive/flexible intensive/flexible
treatment is being treatment is being adaptedadapted
Mega U
nits in
Mega U
nits in
1,0001,000
0%0% 25%25% 50%50% 75%75% 100%100%
19961996
19971997
11998998
19991999
20002000
JapanJapan EuropeEurope USUS
Towards More Sophisticated DevicesTowards More Sophisticated Devices% pen users in volume split by region% pen users in volume split by region
81%81%73%73%
7%7%
Note: Numbers are all MAT Q3Note: Numbers are all MAT Q3
0%
25%
50%
75%
100%
1986 1988 1990 1992 1994 1996 1998 2000
0%
25%
50%
75%
100%
1986 1988 1990 1992 1994 1996 1998 2000
Insulin analogueInsulin analogue
Analogues to Replace Human Insulin Analogues to Replace Human Insulin
2%2%
90%90%
8%8%
Note: Numbers are all MAT Q3 Note: Numbers are all MAT Q3
Human insulinHuman insulin
Animal insulinAnimal insulin
% insulin volume split by type of insulin% insulin volume split by type of insulin
Full range of analoguesFull range of analogues
NVO LLY AVE NVO LLY AVE
Rapid-acting Rapid-acting MarketedMarketed Marketed Ph1/Ph2Marketed Ph1/Ph2
Basal Basal Ph3Ph3 Marketed Marketed
Premix, protracted Premix, protracted ApprovedApproved MarketedMarketed
One new device each yearOne new device each year
Adding Value to Volume at Novo NordiskAdding Value to Volume at Novo Nordisk
Upgrading the Upgrading the Insulin Insulin MarketMarket
Hu
man
insu
linH
um
an in
sulin
Insu
lin a
nal
og
ue
Insu
lin a
nal
og
ue
US
D 1
.0U
SD
1.0
US
D 2
.0U
SD
2.0
US
D 1
.3U
SD
1.3
US
D 1
.5
Estimated averageEstimated averagetreatment cost per daytreatment cost per day
VialsVials
Pen
sP
ens
US – Positioned for GrowthUS – Positioned for Growth
New
man
agem
ent
recr
uit
ed a
nd
N
ew m
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emen
t re
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ited
an
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s fo
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200
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iple
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n 2
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lin
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n v
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Insu
lin
mar
ket
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es i
n v
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me
up
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m 2
0.2%
in
199
9 to
24.
6% i
n
up
fro
m 2
0.2%
in
199
9 to
24.
6% i
n
2000
(b
oth
MA
T Q
3)20
00 (
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th M
AT
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Co
-mar
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l w
ith
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(ap
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an
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Inn
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01 l
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ch i
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2 20
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US
in
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n m
arke
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are
and
sal
es
US
in
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n m
arke
t sh
are
and
sal
es
dev
elo
pm
ent
dev
elo
pm
ent
5050
7070
9090
110110
130130
150150
170170
190190
MATMATQ3/95Q3/95
MATMATQ3/96Q3/96
MATMATQ3/97Q3/97
MATMATQ3/98Q3/98
MATMATQ3/99Q3/99
MATMATQ3/00Q3/00
Ind
ex M
AT
Q3.
1995
=10
0In
dex
MA
TQ
3.19
95=
100
10%10%
12%12%
14%14%
16%16%
18%18%
20%20%
22%22%
24%24%
26%26%
Insulin sales (USD)Insulin sales (USD)
Market share in MU (right-hand scale)Market share in MU (right-hand scale)
Emerging Markets Likely to Add GrowthEmerging Markets Likely to Add Growth
Increased wealth (western Increased wealth (western lifestyle) and health care lifestyle) and health care spending lead to increased spending lead to increased insulin consumptioninsulin consumption
Novo Nordisk has been Novo Nordisk has been present in markets like India present in markets like India and China for years and hold a and China for years and hold a leading position in both leading position in both marketsmarkets
00 2020 4040 6060 8080 100100 120120
ChinaChina
IndiaIndia
JapanJapan
EuropeEurope
USAUSA
Wei
gh
ted
W
eig
hte
d
ave
rag
e o
f U
SA
, av
era
ge
of
US
A,
Eu
rop
e an
d
Eu
rop
e an
d
Jap
anJa
pan
Estimated insulin consumption per cap Estimated insulin consumption per cap (USA index 100)(USA index 100)
9.3%9.3%
10.5%10.5%
10.1%10.1%
15.8%15.8%
2.9%2.9%
World World
RoW RoW
Japan Japan
Europe Europe
USA USA
Insulin Market Overview Insulin Market Overview (’99/ ’00 MAT Q3 Volumes)(’99/ ’00 MAT Q3 Volumes)
Novo NordiskNovo NordiskMarket shareMarket share
Market growth Market growth (‘(‘0000/’/’9999))
4444%%
4646%%
4%4%
66%%
% market size % market size MAT Q3.00MAT Q3.00
100%100%
Notes: Industrialised world only. Mail-order panel now included in the US figures.Notes: Industrialised world only. Mail-order panel now included in the US figures. Market growth in Europe is affected by about +4 %-point from conversion of formulation in Italy and France. Market growth in Europe is affected by about +4 %-point from conversion of formulation in Italy and France. The effect on the world market is estimated to be just above +2 percentage point.The effect on the world market is estimated to be just above +2 percentage point.
25%25%
58%58%
80%80%
61%61%
44%44%
Key Insulin Market ObservationsKey Insulin Market Observations
Volume to deliver approx 5% growthVolume to deliver approx 5% growth
Product mix adding growth of approx 5%Product mix adding growth of approx 5%
Few players with strong core Few players with strong core competencescompetences
Large-scale recombinant protein production Large-scale recombinant protein production capacitycapacity
Access to superior delivery technologyAccess to superior delivery technologyAnalogues are patentedAnalogues are patentedBranded among specialistsBranded among specialistsGlobal reachGlobal reach
Est
imat
ed
Est
imat
ed
10%
* g
row
th
10%
* g
row
th
in a
ttra
ctiv
e in
att
ract
ive
mar
ket
mar
ket
* Excluding pulmonary insulin* Excluding pulmonary insulin
Therapy:Therapy: Diet/ExerciseDiet/Exercise Oral products Oral products Oral/InsulinOral/Insulin InsulinInsulin Approx 66% Approx 66% Approx 7% Approx 27% Approx 7% Approx 27%
From Diet and Exercise to InsulinFrom Diet and Exercise to InsulinType 1:Type 1:(4 million patients*)(4 million patients*)
Type 2:Type 2:(147 million patients*)(147 million patients*)
* Estimated year 2000 incl. undiagnosed.* Estimated year 2000 incl. undiagnosed.
An estimated 25-30 million using medicationAn estimated 25-30 million using medication
Growth Opportunity in Type 2 DiabetesGrowth Opportunity in Type 2 Diabetes
Broad pipeline of innovative Broad pipeline of innovative approaches for treating Type 2 approaches for treating Type 2 diabetesdiabetes
NovoNormNovoNormTMTM/Prandin/Prandin®®
Turnover of DKK 1,087 million in 2000Turnover of DKK 1,087 million in 2000
Increased awareness on prandial glucose Increased awareness on prandial glucose regulation (PGR)regulation (PGR)
Experience in the OAD marketExperience in the OAD market
Well Well positioned for positioned for further growth further growth in USD 5.2 bn in USD 5.2 bn
(+18% in (+18% in MATQ3.00) MATQ3.00)
marketmarket
Type 2 Diabetes – the MetabolicType 2 Diabetes – the Metabolic SyndromeSyndrome
Glucose-induced Glucose-induced insulin secretioninsulin secretion
Tissue response Tissue response to insulinto insulin
Hepatic Hepatic glucose glucose productionproduction
Glucose Glucose uptakeuptake
ImpairedImpairedbeta cellbeta cellfunctionfunction
Basal hyper- Basal hyper- insulinemiainsulinemia
Post Post receptor receptor defectdefect
GlucoseGlucosetransporttransport
Insulin Insulin bindingbinding
Genetic
Acquired
Obesity
Age
Genetic
Acquired
Obesity
Age
Insulin deficiencyInsulin deficiency
Insulin resistanceInsulin resistance
HyperglycemiaHyperglycemia
Genetic
Acquired Glucotoxicity Lipotoxicity
Genetic
Acquired Glucotoxicity Lipotoxicity
NovoNormNovoNormTMTM/Prandin/Prandin®®
NovoNormNovoNormTMTM/Prandin/Prandin®®
NN304NN304
NN1998NN1998
NN2344NN2344
Glucose-induced Glucose-induced insulin secretioninsulin secretion
Tissue response Tissue response to insulinto insulin
Hepatic Hepatic glucose glucose productionproduction
Glucose Glucose uptakeuptake
ImpairedImpairedbeta cellbeta cellfunctionfunction
Basal hyper- Basal hyper- insulinemiainsulinemia
Post Post receptor receptor defectdefect
GlucoseGlucosetransporttransport
Insulin Insulin bindingbinding
NN414NN414
NN4201NN4201
Genetic
Acquired
Obesity
Age
Genetic
Acquired
Obesity
Age
Insulin deficiencyInsulin deficiency
Insulin resistanceInsulin resistance
NovoRapidNovoRapid
Type 2 Diabetes – the MetabolicType 2 Diabetes – the Metabolic SyndromeSyndrome
Insulin deficiencyInsulin deficiency
Insulin resistanceInsulin resistance
HyperglycemiaHyperglycemia
NN2211NN2211
NN2211NN2211
NN622NN622
NN622NN622Genetic
Acquired Glucotoxicity Lipotoxicity
Genetic
Acquired Glucotoxicity Lipotoxicity
Diabetes PipelineDiabetes Pipeline
NN2211NN2211 (GLP-1 analogue)(GLP-1 analogue)
NN1215NN1215 (LABI)(LABI)
NN1998NN1998 (AERx)(AERx)
NN4201NN4201 (Hepatic glucose (Hepatic glucose regulator)regulator)
NN304NN304 (Basal analogue) (Basal analogue)
NovoMixNovoMix® 30® 30 (Premix analogue) (Premix analogue)
NN2344 NN2344 (Insulin (Insulin sensitiser)sensitiser)
NN414NN414 (Insulin secretion)(Insulin secretion)
NN622NN622 (Dual acting sensitiser)(Dual acting sensitiser)
NovoMixNovoMix® (® (other mixes)other mixes)
Phase 1Phase 1 Phase 2Phase 2 Phase 3Phase 3 RegistrationRegistration
(Premix analogue)(Premix analogue)
Novo Nordisk – Future Key DriversNovo Nordisk – Future Key Drivers
Diabetes careDiabetes careCoagulation Coagulation
disordersdisorders
PrimaryPrimarygrowth growth driversdrivers
Secondary Secondary valuevalue
driversdrivers HRTHRTHuman growth Human growth
hormonehormoneIntellectual Intellectual
propertyproperty
0
500
1,000
1,500
2,000
2,500
1996 1997 1998 1999 2000
0
500
1,000
1,500
2,000
2,500
1996 1997 1998 1999 2000
DKK millionDKK million
Launched:Launched:Europe Europe Feb 1996Feb 1996
USA USA April 1999April 1999
Japan Japan May 2000May 2000
Inhibitor indication:Inhibitor indication:
Estimated market Estimated market potential USD 350 millionpotential USD 350 million
NovoSevenNovoSeven® Sales® Sales
Mechanism of Action and CharacteristicsMechanism of Action and Characteristics
The key features of NovoSevenThe key features of NovoSeven®® are: are:
Injury site selective Injury site selective activation of platelets activation of platelets creates high local thrombin creates high local thrombin formation which secures a formation which secures a tight fibrin clottight fibrin clot
Correction of coagulation Correction of coagulation within 10 minuteswithin 10 minutes
Good safety profileGood safety profile
RuptureRuptureTissue factorTissue factor FVIIa / FVIIa / NovoSeven®NovoSeven®
Growing Current IndicationGrowing Current Indication
Launch NovoSevenLaunch NovoSeven®® globally and establish a globally and establish a leadership position in congenital inhibitorleadership position in congenital inhibitortreatment viatreatment via
Superior product benefitsSuperior product benefits
Customer relationsCustomer relations
Synergies between marketsSynergies between markets
Pharma economic researchPharma economic research
Enhance NovoSevenEnhance NovoSeven®® position as first line position as first line therapy intherapy in
Hospital treatmentHospital treatment
Home treatmentHome treatment
Orthopaedic surgeryOrthopaedic surgery
Acquired haemophiliaAcquired haemophilia
Develop new formulations of NovoSevenDevelop new formulations of NovoSeven®®
Exp
and
glo
bal
E
xpan
d g
lob
al
mar
ket
mar
ket
lead
ersh
ip
lead
ersh
ip
wit
hin
cu
rren
t w
ith
in c
urr
ent
ind
icat
ion
ind
icat
ion
Surgicalbleeding
Single Factor
MultipleFactors
Spontaneousbleeding
Lack ofplatelets
Defectiveplatelets
Expanding the Use of NovoSevenExpanding the Use of NovoSeven®®
Coagulation FactorDeficiency
PlateletDisorder
GeneralHaemostasis
Haemophilia with Haemophilia with inhibitorsinhibitors
Liver transplantationsLiver transplantationsUpper gastrointestinal bleedingsUpper gastrointestinal bleedings
Liver resection Liver resection
Intra-cerebral Intra-cerebral bleedsbleeds
TraumatologyTraumatology
Vitamin K-Vitamin K-antagonistsantagonists
Bone marrow Bone marrow transplantationtransplantation
Liver resection Liver resection
Hip replacementsHip replacements
Haemorrhagic Haemorrhagic dilution dilution coagulopathycoagulopathy
Oozing after Oozing after cardiac valve cardiac valve replacementreplacement
Colon cancer Colon cancer surgerysurgery
GlanzmannGlanzmann
Bernard-SouliersBernard-Souliers
Upper gastro- Upper gastro- intestinal intestinal bleedingsbleedings
Current Current indicationindication
Von Willebrand’sVon Willebrand’s
NovosevenNovoseven®® Is Expected to Make a DifferenceIs Expected to Make a Difference
Control of bleedingsControl of bleedings
Higher rate of successHigher rate of success
Fewer complicationsFewer complications
Dry surgical fieldDry surgical field
Flexibility in timingFlexibility in timing
Less dependent on blood bankLess dependent on blood bank
PatientsPatients PayersPayers
PhysiciansPhysicians
N7 inN7 ingeneral general
haemostasishaemostasis
Higher chance of survivalHigher chance of survival
Fewer days at hospitalFewer days at hospital
Fewer infections Fewer infections
Reduced ICU and ward-daysReduced ICU and ward-days
Reduced mortalityReduced mortality
Less transfusionsLess transfusions
Towards the First General Haemostatic AgentTowards the First General Haemostatic Agent
8 studies within 6 clinical areas:8 studies within 6 clinical areas:Orthotopic liver transplantations*Orthotopic liver transplantations*
Liver resection*Liver resection*
Upper GI bleeds*Upper GI bleeds*
Liver resectionLiver resection
Reversal of anti-coagulantia Reversal of anti-coagulantia
therapytherapy
Bone marrow transplantationBone marrow transplantation
Intra-cerebral bleedsIntra-cerebral bleeds
TraumatologyTraumatology
Criteria for moving into clinical area:Criteria for moving into clinical area:
Medical needMedical need
Probability of successProbability of success
Market potentialMarket potential
Competitive situationCompetitive situation
Strategic leverageStrategic leverage
* Patients with chronic liver disease* Patients with chronic liver disease
Clinical areaClinical area Status on projectStatus on project
Building Strong Scientific EvidenceBuilding Strong Scientific Evidence
Orthotopic liver transplantation*Orthotopic liver transplantation* Ongoing Ph 2/3 projectOngoing Ph 2/3 projectLiver resectionLiver resection Exploratory Ph 2 study has been initiatedExploratory Ph 2 study has been initiated
Upper GI bleeds*Upper GI bleeds* Ph 2 study expected to start in first half 2001Ph 2 study expected to start in first half 2001Liver resection*Liver resection* Ph 2 study expected to start in first half 2001Ph 2 study expected to start in first half 2001
Reversal of anti-coagulantia therapyReversal of anti-coagulantia therapy Ph 2 study expected to start in first half 2001Ph 2 study expected to start in first half 2001Bone marrow transplantationsBone marrow transplantations Ph 2 study expected to start in first half 2001Ph 2 study expected to start in first half 2001
Intra-cerebral bleedsIntra-cerebral bleeds Exploratory Ph 2 study expected to start mid 2001Exploratory Ph 2 study expected to start mid 2001
TraumatologyTraumatology Ph 2 study expected to start by year end 2001Ph 2 study expected to start by year end 2001
* Patients with chronic liver disease. * Patients with chronic liver disease.
SpontaneousSpontaneousbleedingbleeding
Single Single FactorFactor
MultipleMultipleFactorsFactors
SurgicalSurgicalbleedingbleeding
Lack ofLack ofplateletsplatelets
DefectiveDefectiveplateletsplatelets
Coagulation FactorCoagulation FactorDeficiencyDeficiency
PlateletPlateletDisorderDisorder
GeneralGeneralHaemostasisHaemostasis
Expanding the Use of NovosevenExpanding the Use of Novoseven®®
Haemophilia with Haemophilia with inhibitorsinhibitors
Liver transplantationsLiver transplantationsUpper gastrointestinal bleedingsUpper gastrointestinal bleedings
Liver resection Liver resection
Intra-cerebral Intra-cerebral bleedsbleeds
TraumatologyTraumatology
Vitamin K-Vitamin K-antagonistsantagonists
Bone marrow Bone marrow transplantationtransplantation
Liver resection Liver resection
Hip replacementsHip replacements
Haemorrhagic Haemorrhagic dilution dilution coagulopathycoagulopathy
Oozing after Oozing after cardiac valve cardiac valve replacementreplacement
Colon cancer Colon cancer surgerysurgery
GlanzmannGlanzmann
Bernard-SouliersBernard-Souliers
Upper gastro- Upper gastro- intestinal intestinal bleedingsbleedings
Current Current indicationindication
Von Willebrand’sVon Willebrand’s
Patients with Patients with chronic liver chronic liver diseasedisease
Novo Nordisk – Future Key DriversNovo Nordisk – Future Key Drivers
Diabetes careDiabetes care Coagulation Coagulation disorderdisorder
PrimaryPrimarygrowth growth driversdrivers
Secondary Secondary valuevalue
driversdrivers HRTHRTHuman growth Human growth
hormonehormoneIntellectual Intellectual
propertyproperty
Human growth hormone Human growth hormone
2,500
0
500
1,000
1,500
2,000
1996 1997 1998 1999 2000
NorditropinNorditropin®®SimpleXxSimpleXx™™::
Launched:Launched:
EU: EU: April 1999April 1999
Japan: Japan: JulyJuly 2000 2000
USAUSA: : Oct. 2000Oct. 2000
DKK millionDKK million
Co
nv
ers
ion
ra
te b
y Q
3 2
00
0C
on
ver
sio
n r
ate
by
Q3
20
00
EuropeEuropeLaunch Q1 1999Launch Q1 1999
Market share has Market share has increasedincreased
JapanJapanLaunch Q2 2000Launch Q2 2000
Share of new Share of new patients has patients has increasedincreased
USAUSALaunch Q4 2000Launch Q4 2000
0%0% 20%20% 40%40% 60%60% 80%80% 100%100%
NorditropinNorditropin®® NorditropinNorditropin®® SimpleXx SimpleXxTMTM
Europe:Europe:
Japan:Japan:
Conversion to NorditropinConversion to Norditropin®®SimpleXxSimpleXxTMTM
Novo Nordisk – Future Key DriversNovo Nordisk – Future Key Drivers
Diabetes careDiabetes careCoagulation Coagulation
disordersdisorders
PrimaryPrimarygrowth growth driversdrivers
Secondary Secondary valuevalue
driversdrivers HRTHRTHuman growth Human growth
hormonehormoneIntellectual Intellectual
propertyproperty
Hormone Replacement Therapy (HRT)Hormone Replacement Therapy (HRT)
ActivelleActivelleTMTM - the best low- - the best low-dose product in the fast-dose product in the fast-growing continuous growing continuous combined segmentcombined segment
Further geographic Further geographic expansion of Activelleexpansion of ActivelleTMTM
Out-licensed to Out-licensed to Pharmacia in the USPharmacia in the US
0
200
400
600
800
1,000
1,200
1,400
1996 1997 1998 1999 2000
0
200
400
600
800
1,000
1,200
1,400
1996 1997 1998 1999 2000
DKK millionDKK million
Maximising the Potential within HRTMaximising the Potential within HRT
Trends in HRTTrends in HRT
Low-dose products are Low-dose products are increasingly favouredincreasingly favoured
Women demand ‘no period’ Women demand ‘no period’ therapytherapy
Direct-to-Consumer marketing is Direct-to-Consumer marketing is increasing with focus on increasing with focus on lifestyle aspectslifestyle aspects
Act
ivel
leA
ctiv
elle
TM
T
M
po
siti
on
ed t
o
po
siti
on
ed t
o
ben
efit
fro
m
ben
efit
fro
m
tren
ds
tren
ds
Novo Nordisk – Future Key DriversNovo Nordisk – Future Key Drivers
Diabetes careDiabetes careCoagulation Coagulation
disorderdisorder
PrimaryPrimarygrowth growth driversdrivers
Secondary Secondary valuevalue
driversdrivers HRTHRTHuman growth Human growth
hormonehormoneIntellectual Intellectual
propertyproperty
A total of 2,102 valid A total of 2,102 valid patents by year-end 2000patents by year-end 2000
First filing for 77 new First filing for 77 new inventions during 2000inventions during 2000
233 patents issued to 233 patents issued to Novo Nordisk during 2000 Novo Nordisk during 2000 alone mostly related to alone mostly related to diabetes and devicesdiabetes and devices
Three major settlements Three major settlements on Novo Nordisk patents on Novo Nordisk patents within the last 12 monthswithin the last 12 months
Novo Nordisk will Novo Nordisk will continue to enforce continue to enforce patents patents pro-activelypro-actively
A Strong Portfolio of Intellectual PropertyA Strong Portfolio of Intellectual Property
0
500
1,000
1,500
2,000
2,500
1991 1994 1997 2000
0
500
1,000
1,500
2,000
2,500
1991 1994 1997 2000
Patents by year-endPatents by year-end
0%
20%
40%
60%
0%
20%
40%
60%
Source: ArosMaizels Research and Novo NordiskSource: ArosMaizels Research and Novo Nordisk
% of 1999 sales with patents expiring in 2000-2004% of 1999 sales with patents expiring in 2000-2004
No Major Patent ExpirationsNo Major Patent Expirations
FinancialsFinancials
Key Financials for 2000 Key Financials for 2000
Net turnoverNet turnover 20,81120,811 16,423 16,423 2727
Operating profit as reported Operating profit as reported 4,8164,816 3,527 3,527 3737
Net profitNet profit 3,0873,087 2,001 2,001 5454
Earnings per share (DKK)Earnings per share (DKK) 44.20 44.20 27.98 27.98 5858
Free cash flowFree cash flow 2,7122,712 1,5331,533 7777
DKK million DKK million 20002000 19991999 % change % change
Margin DevelopmentMargin Development
Note: EBIT margin as reportedNote: EBIT margin as reported
00
10001000
20002000
30003000
40004000
50005000
60006000
70007000
19971997 19981998 19991999 20002000
DK
K m
illio
nD
KK
mill
ion
R&D costsR&D costsS&D costsS&D costsAdm. costsAdm. costs
00
10001000
20002000
30003000
40004000
50005000
60006000
19971997 19981998 19991999 20002000
DK
K m
illio
nD
KK
mill
ion Production costsProduction costs Development in gross- andDevelopment in gross- and
EBIT-margin 1997-2000EBIT-margin 1997-2000
65%
67%
69%
71%
73%
75%
77%
79%
1997 1998 1999 2000
10%
12%
14%
16%
18%
20%
22%
24%
Gross margin (left-hand scale)
EBIT-margin (right-hand scale)
65%
67%
69%
71%
73%
75%
77%
79%
1997 1998 1999 2000
10%
12%
14%
16%
18%
20%
22%
24%
Gross margin (left-hand scale)
EBIT-margin (right-hand scale)
17
.4%
17
.4%
27
.9%
27
.9% 12
.1%
12
.1%
16
.3%
16
.3% 9.0
%9
.0%
30
.1%
30
.1%
Long-term Financial Targets Long-term Financial Targets
New financial targets New financial targets
EBIT growth of 15% per annumEBIT growth of 15% per annum
EBIT margin of 25%EBIT margin of 25%
ROIC of 25% (post-tax) per annumROIC of 25% (post-tax) per annum
Cash to earnings of 60%Cash to earnings of 60%
Targets set out in 1996Targets set out in 1996
EBIT growth of 15% per annumEBIT growth of 15% per annum
EBIT margin of 20%EBIT margin of 20%
RONFA of 20% per annumRONFA of 20% per annum
Positive cash flowPositive cash flow
All reached All reached by 2000by 2000
Balancing Balancing growth and valuegrowth and value
Focus on Shareholder Value Focus on Shareholder Value
Split of shares – effective as of 4 April 2001Split of shares – effective as of 4 April 2001 1 B share (nom DKK 10) 1 B share (nom DKK 10) 5 B shares (nom DKK 2 each)5 B shares (nom DKK 2 each) 1 ADS (nom DKK 5) 1 ADS (nom DKK 5) 2.5 ADSs (nom DKK 2 each)2.5 ADSs (nom DKK 2 each)
Reduction in share capital corresponding to 6% of the total capitalReduction in share capital corresponding to 6% of the total capital
Share buy-back programme part of the strategyShare buy-back programme part of the strategy
Shareholder value driven management incentive programmesShareholder value driven management incentive programmes
Top management have all invested equal to one year’s gross salary in Top management have all invested equal to one year’s gross salary in Novo Nordisk sharesNovo Nordisk shares
Four options received on each purchase of Novo Nordisk shares Four options received on each purchase of Novo Nordisk shares
Annual option programme based on performance continuesAnnual option programme based on performance continues
Increasing Dividend per ShareIncreasing Dividend per Share
0
2
4
6
8
10
12
14
1997 1998 1999 2000
0
2
4
6
8
10
12
14
1997 1998 1999 2000
Dividend per share Dividend per share
of DKK 13.25 of DKK 13.25
in 2000in 2000
Increased 64% from Increased 64% from 1999 to 2000 1999 to 2000 adjusting for adjusting for Novozymes A/SNovozymes A/S
DKK per shareDKK per share
20%20%
23%23%
29%29%
Payout ratio = 30%Payout ratio = 30%
Note: Note: Historic dividends are split between Novozymes and Novo Nordisk (HC) based on Historic dividends are split between Novozymes and Novo Nordisk (HC) based on share of share of total total earningsearnings..
Novozymes’ Novozymes’ share of dividendshare of dividend
Estimated market potential for Estimated market potential for current NovoSeven® indication current NovoSeven® indication of USD 350 million of USD 350 million
Entering 6 new clinical areas with Entering 6 new clinical areas with 8 new studies in 20018 new studies in 2001
Strategy for making NovoSeven® Strategy for making NovoSeven® the first general haemostatic the first general haemostatic agentagent
Moving towards haemostasis Moving towards haemostasis managementmanagement
Patent protection in Europe and Patent protection in Europe and the US until 2011the US until 2011
Patent protection in Japan until Patent protection in Japan until 20072007
PrimaryPrimarygrowthgrowthdriversdrivers
Secondary Secondary valuevalue
driversdrivers
Novo Nordisk – Key DriversNovo Nordisk – Key Drivers
World leader with steady growthWorld leader with steady growth for 77 years for 77 years
2/3 of business (insulin) growing2/3 of business (insulin) growing >10% p.a. >10% p.a.
Growth platform in the USGrowth platform in the US
The most comprehensive insulin and The most comprehensive insulin and insulin device portfolio in the industry insulin device portfolio in the industry – one new device per year– one new device per year
Sensitisers (NN2344 and NN622)Sensitisers (NN2344 and NN622)
Reduction of glucose output from Reduction of glucose output from the liver (NN4201)the liver (NN4201)
GLP-1 analogue (NN2211)GLP-1 analogue (NN2211)
Insulin secretion (NN414)Insulin secretion (NN414)
Diabetes careDiabetes care Coagulation disordersCoagulation disorders
HRTHRTHuman growth Human growth
hormonehormoneIntellectual Intellectual
propertyproperty
Novo Nordisk – Positioned for GrowthNovo Nordisk – Positioned for Growth
Well Well positioned positioned to capture to capture
future future growthgrowth
Consistent, strong organic growthConsistent, strong organic growth
Focused on a few therapeutic areas with large Focused on a few therapeutic areas with large unmet medical needsunmet medical needs
Leadership position in diabetes care and Leadership position in diabetes care and haemostasis managementhaemostasis management
Strong presence in Europe and Japan, Strong presence in Europe and Japan, strong growth in USstrong growth in US
Proven biotech and drug delivery capabilitiesProven biotech and drug delivery capabilities
Low exposure to patent expirationsLow exposure to patent expirations
Track record of delivering on promisesTrack record of delivering on promises
Forward-looking StatementsForward-looking Statements
This presentation contains forward-looking statements as the term is defined This presentation contains forward-looking statements as the term is defined in the US Private Securities Litigation Reform Act of 1995 in the US Private Securities Litigation Reform Act of 1995
Such forward-looking statements are subject to risk and uncertainties that Such forward-looking statements are subject to risk and uncertainties that may cause actual results to differ materially from expectations, including may cause actual results to differ materially from expectations, including unexpected developments in the international currency exchange and unexpected developments in the international currency exchange and securities markets, government-mandated or market-driven price decreases securities markets, government-mandated or market-driven price decreases for Novo Nordisk's products in the company's major markets and the for Novo Nordisk's products in the company's major markets and the introduction of competing products within Novo Nordisk's core businesses introduction of competing products within Novo Nordisk's core businesses
These and other risks and uncertainties, are further described in reports filed These and other risks and uncertainties, are further described in reports filed with the US Securities and Exchange Commission (SEC) by Novo Nordisk with the US Securities and Exchange Commission (SEC) by Novo Nordisk and readily available to the public, including the company's Form 20-F, which and readily available to the public, including the company's Form 20-F, which was filed on 2 was filed on 2 MayMay 20002000. . A Form 20-F for 2000 will be filed by the end of A Form 20-F for 2000 will be filed by the end of June 2001June 2001
Estimated market potential for Estimated market potential for current NovoSeven® indication current NovoSeven® indication of USD 350 million of USD 350 million
Entering 6 new clinical areas with Entering 6 new clinical areas with 8 new studies in 20018 new studies in 2001
Strategy for making NovoSeven® Strategy for making NovoSeven® the first general haemostatic the first general haemostatic agentagent
Moving towards haemostasis Moving towards haemostasis managementmanagement
Patent protection in Europe and Patent protection in Europe and the US until 2011the US until 2011
Patent protection in Japan until Patent protection in Japan until 20072007
PrimaryPrimarygrowthgrowthdriversdrivers
Secondary Secondary valuevalue
driversdrivers
Novo Nordisk – Key DriversNovo Nordisk – Key Drivers
World leader with steady growthWorld leader with steady growth for 77 years for 77 years
2/3 of business (insulin) growing2/3 of business (insulin) growing >10% p.a. >10% p.a.
Growth platform in the USGrowth platform in the US
The most comprehensive insulin and The most comprehensive insulin and insulin device portfolio in the industry insulin device portfolio in the industry – one new device per year– one new device per year
Sensitisers (NN2344 and NN622)Sensitisers (NN2344 and NN622)
Reduction of glucose output from Reduction of glucose output from the liver (NN4201)the liver (NN4201)
GLP-1 analogue (NN2211)GLP-1 analogue (NN2211)
Insulin secretion (NN414)Insulin secretion (NN414)
Diabetes careDiabetes care Coagulation disordersCoagulation disorders
HRTHRTHuman growth Human growth
hormonehormoneIntellectual Intellectual
propertyproperty
AppendixAppendix
Investor InformationInvestor Information
Investor Relations Contacts:Investor Relations Contacts:
Novo Nordisk A/S Novo Nordisk A/S Investor Relations Investor Relations Novo Allé Novo Allé DK 2880 BagsværdDK 2880 BagsværdDenmark Denmark Fax (+45) 4444 2314. Fax (+45) 4444 2314.
Peter HaahrPeter HaahrPhone (+45) 4442 1207Phone (+45) 4442 1207 E-mail: [email protected]: [email protected]
Palle Holm Olesen Palle Holm Olesen Phone (+45) 4442 6175Phone (+45) 4442 6175 E-mail: [email protected]: [email protected]
Rasmus Holm-JørgensenRasmus Holm-JørgensenPhonePhone (+1) 212 867 0123 (+1) 212 867 0123 E-mail: [email protected]: [email protected]
Share informationShare information
Novo Nordisk’sNovo Nordisk’s B shares are listed B shares are listed on the stock exchanges in on the stock exchanges in Copenhagen and London. Its Copenhagen and London. Its ADSs are listed on the New York ADSs are listed on the New York Stock Exchange under the symbol Stock Exchange under the symbol "NVO". For further company "NVO". For further company information, visit Novo Nordisk on information, visit Novo Nordisk on the World Wide Web at the World Wide Web at
http://www.novonordisk.comhttp://www.novonordisk.com
The Vision of Novo NordiskThe Vision of Novo Nordisk
We will be the world’s leading diabetes care companyWe will be the world’s leading diabetes care company
Our aspiration is to defeat diabetes by finding better Our aspiration is to defeat diabetes by finding better methods of diabetes prevention, detection and treatmentmethods of diabetes prevention, detection and treatment
We will work actively to promote collaboration between We will work actively to promote collaboration between all parties in the healthcare system in order to achieve all parties in the healthcare system in order to achieve our common goalsour common goals
Our focus is our strength. We will stay independent and Our focus is our strength. We will stay independent and form alliances whenever they serve our business form alliances whenever they serve our business purpose and the cause we stand forpurpose and the cause we stand for
Profit & Loss 1998-2000Profit & Loss 1998-2000
DKK millionDKK million 19981998 19991999 20002000
Net turnoverNet turnover 13,64713,647 16,42316,423 20,81120,811
Y/Y growthY/Y growth +8.4%+8.4% +20.3%+20.3% +26.7%+26.7%
Gross profitGross profit 9,8969,896 12,19612,196 15,76715,767
EBITEBIT 2,9332,933 3,5273,527 4,8164,816
EBIT-marginEBIT-margin 21.5%21.5% 21.5%21.5% 23.1%23.1%
Net financeNet finance 243243 -178-178 2424
Pre-tax profitPre-tax profit 3,1763,176 3,3493,349 4,8404,840
Tax rateTax rate 36.5%36.5% 40.3%40.3% 36.2%36.2%
Net profitNet profit 2,0162,016 2,0012,001 3,0873,087
DKK million DKK million 20002000 19991999 % of total % of total 2000 2000 % change % change
Insulin etcInsulin etc 13,49113,491 11,04911,049 6565 2222NovoNormNovoNorm®®/Prandin™/Prandin™ 1,0871,087 728728 55 4949
Diabetes Care, TotalDiabetes Care, Total 14,57814,578 11,77711,777 7070 2424
Coagulation disorders*Coagulation disorders* 2,2702,270 1,3131,313 1111 7373Growth disordersGrowth disorders 2,1072,107 1,7211,721 1010 2222
HRTHRT 1,3061,306 1,1301,130 66 1616
OtherOther 550550 482482 33 1414
TotalTotal 20,81120,811 16,42316,423 100100 2727
* NovoSeven* NovoSeven®®
TTurnover by Therapy 2000 and 1999urnover by Therapy 2000 and 1999
DKK millionDKK million 19981998 19991999 20002000
Fixed assetsFixed assets 12,53412,534 10,57610,576 12,06512,065
StocksStocks 3,2533,253 3,5833,583 3,9723,972
DebtorsDebtors 4,8954,895 5,4815,481 4,7114,711
Cash and current inv.Cash and current inv. 1,4761,476 3,4423,442 3,8453,845
Total assetsTotal assets 22,15822,158 23,08223,082 24,59324,593
Shareholder’s fundsShareholder’s funds 15,28715,287 15,18515,185 15,73815,738
ProvisionsProvisions 1,1211,121 1,2581,258 1,4931,493
Long-term debtLong-term debt 997997 1,0071,007 950950
Short-term debtShort-term debt 4,7534,753 5,6325,632 6,4126,412
Total liabilitiesTotal liabilities 22,15822,158 23,08223,082 24,59324,593
Balance Sheet 1998-2000Balance Sheet 1998-2000
Characteristics of the OAD MarketCharacteristics of the OAD Market
Low but increasing awareness Low but increasing awareness among decision makersamong decision makers
Low degree of diagnosisLow degree of diagnosis
Need for educationNeed for education
Low focus on pharmacoeconomicsLow focus on pharmacoeconomics
Mainly GP drivenMainly GP driven
Chronic and complicated Chronic and complicated diseasedisease
Serious late-stage Serious late-stage complicationscomplications
Age-adjusted death rate Age-adjusted death rate increasingincreasing
Novo Nordisk products/projectsNovo Nordisk products/projects
NovoNorm™/Prandin®NovoNorm™/Prandin®
NN622 (currently in Phase 2)NN622 (currently in Phase 2)
NN2344 (currently in Phase 2)NN2344 (currently in Phase 2)
NN2211 (currently in Phase 2)NN2211 (currently in Phase 2)
NN4201 (currently in Phase 1)NN4201 (currently in Phase 1)
NN414 (currently in Phase 1)NN414 (currently in Phase 1)
The OAD Market and PGRThe OAD Market and PGR
OAD market continues to grow stronglyOAD market continues to grow stronglyThe number of treated patients increased by 8.5% in MATQ3.2000The number of treated patients increased by 8.5% in MATQ3.2000
The OAD market increased 18.3% to USD 5.2 bn in MATQ3.2000The OAD market increased 18.3% to USD 5.2 bn in MATQ3.2000
New treatment options fuel an increase in New treatment options fuel an increase in combination therapycombination therapy
Growing acceptance in both US and EU, that both insulin secretion Growing acceptance in both US and EU, that both insulin secretion and insulin resistance defects need to be treated and insulin resistance defects need to be treated
Sensitiser growth has leveled off in US – uptake is limited in EuropeSensitiser growth has leveled off in US – uptake is limited in Europe
Strong support for post-prandial blood glucose Strong support for post-prandial blood glucose (PPG) control(PPG) control
PPG is an independent risk factor for cardiovascular diseasePPG is an independent risk factor for cardiovascular disease
ADA consensus meeting held in January 2001 ADA consensus meeting held in January 2001
Formation of the Diabetic-cardiovascular Initiative (DCVD)Formation of the Diabetic-cardiovascular Initiative (DCVD)
06000600
NormalNormal
Type 2 diabetesType 2 diabetes
10001000 14001400 18001800 22002200 02000200 06000600
800800
700700
600600
500500
400400
300300
200200
100100
Insu
lin
Sec
reti
on
(p
mo
l/m
in)
Insu
lin
Sec
reti
on
(p
mo
l/m
in)
Kilde: O'MEARA et al. Am. J. Medicine, 1990; 89.Kilde: O'MEARA et al. Am. J. Medicine, 1990; 89.
Insulin Secretion in Normal People and People with Type 2 DiabetesInsulin Secretion in Normal People and People with Type 2 Diabetes
Positive Outlook for NovoNormPositive Outlook for NovoNormTMTM/Prandin/Prandin®®
Strong support for post-prandial blood glucose (PPG) controlStrong support for post-prandial blood glucose (PPG) controlPPG is an independent risk factor for cardiovascular diseasePPG is an independent risk factor for cardiovascular disease
ADA consensus meeting January 2001 ADA consensus meeting January 2001
Formation of the Diabetic-cardiovascular Initiative (DCVD)Formation of the Diabetic-cardiovascular Initiative (DCVD)
Strengthening of clinical profile in progressStrengthening of clinical profile in progressTrials with NovoNormTrials with NovoNormTMTM/Prandin/Prandin®® in combo and comparison to in combo and comparison to sensitisers ongoingsensitisers ongoing
Other trials in progress to broaden utilisationOther trials in progress to broaden utilisation
Over 25 publications in support of NovoNormOver 25 publications in support of NovoNormTMTM/Prandin /Prandin ®® in 2000 in 2000
Insulin etc
NovoRapidNovoRapid®®/NovoLog/NovoLog®®::
EU: EU: Roll out ongoingRoll out ongoing
US: US: Launch H2 2001Launch H2 2001
Japan: Japan: Filed Filed
New innovative devices:New innovative devices:
InnovoInnovo®®: : EU and JapanEU and Japan
InnoLetInnoLet®®: : EUEU1,0001,000
2,0002,000
3,0003,000
4,0004,000
Q1 Q1 Q2 Q2 Q3 Q3 Q4 Q4 Q1 Q1 Q2 Q2 Q3 Q3 Q4 Q4 Q1 Q1 Q2 Q2 Q3 Q3 Q4 Q4 Q1 Q1 Q2 Q2 Q3 Q3 Q4 Q4
DKK millionDKK million
19971997 19981998 19991999 20002000
SSales by quarterales by quarter
Characteristics of the Insulin MarketCharacteristics of the Insulin Market
Both Type 1 and Type 2 diabetesBoth Type 1 and Type 2 diabetes
Mainly specialist driven, Mainly specialist driven, but GPs very important in the USbut GPs very important in the US
Few players, large volumesFew players, large volumes
Inexpensive and reimbursed Inexpensive and reimbursed treatmenttreatment
Cumbersome with multiple daily Cumbersome with multiple daily injections and glucose monitoringinjections and glucose monitoring
Patients start too late on insulinPatients start too late on insulin
Devices increasingly importantDevices increasingly important
Need for education on importanceNeed for education on importanceof treating more assertivelyof treating more assertively
Novo Nordisk products/projectsNovo Nordisk products/projects
Insulin productsInsulin products
Actrapid®, Insulatard®, Actrapid®, Insulatard®, Monotard®, Mixtard®, Monotard®, Mixtard®, Ultratard®, Velosulin®, Ultratard®, Velosulin®, Novolin®, NovoRapid®, Novolin®, NovoRapid®, NovoMix® (registration), NovoMix® (registration), NN304 (Phase 3), NN304 (Phase 3), LABI (Phase 1)LABI (Phase 1)
Type of deviceType of device
Vials, NovoPen®, NovoLet®, Vials, NovoPen®, NovoLet®, PenMate™, Innovo®, InnoLet®, PenMate™, Innovo®, InnoLet®, AERx/NN1998 (Phase 2)AERx/NN1998 (Phase 2)
””New Device Each Year”New Device Each Year”
AERx NN1998 – Pulmonary InsulinAERx NN1998 – Pulmonary Insulin
Pulmonary Insulin OpportunityPulmonary Insulin OpportunityNon-invasive insulin deliveryNon-invasive insulin delivery
Mainly poorly controlled Type 2 diabetes patientsMainly poorly controlled Type 2 diabetes patients
Expanded insulin salesExpanded insulin sales
Product RequirementsProduct RequirementsAccuracy, precision, dose adjustmentAccuracy, precision, dose adjustment
Patient friendly device interfacePatient friendly device interface
Scaleable manufacturingScaleable manufacturing
Aradigm is the Optimal PartnerAradigm is the Optimal PartnerLiquid insulin formulation Liquid insulin formulation
Breath controlBreath control
Increments of single insulin unitsIncrements of single insulin units
Performance monitoringPerformance monitoring
Diabetes – Source of InnovationDiabetes – Source of Innovation
R&D projectsR&D projects
Clinical researchClinical research
Steno Diabetes CentreSteno Diabetes Centre
Oxford Diabetes CentreOxford Diabetes Centre
Clinical research centres worldwideClinical research centres worldwideEvidence-based medicineEvidence-based medicine
NN disease mgt programmesNN disease mgt programmes
Outcomes data from > 100.000 Outcomes data from > 100.000 individuals with diabetesindividuals with diabetes
Molecular diversity & designMolecular diversity & design
Protein chemistry since ’23Protein chemistry since ’23
Medicinal chemistry since ’68Medicinal chemistry since ’68
Computational chemistry since ’75Computational chemistry since ’75
Rational drug design since ’83Rational drug design since ’83
Combinatorial chemistry since ’93Combinatorial chemistry since ’93 TrinomicsTrinomics
Genomics: Incyte since ’95Genomics: Incyte since ’95
Proteomics: CPA since ’97Proteomics: CPA since ’97
Metabonomics since ’99Metabonomics since ’99
Drug target & screeningDrug target & screening
Molecular biology since ’80Molecular biology since ’80
HT screening: Amersham since ’92HT screening: Amersham since ’92
Chemoinformatics since ’95Chemoinformatics since ’95
Dundee MRC consortium since ’98Dundee MRC consortium since ’98
Ultra HT Screening since ’00Ultra HT Screening since ’00
Basic researchBasic research
Hagedorn Research InstituteHagedorn Research Institute
Oxford and Steno Diabetes CentreOxford and Steno Diabetes Centre
Academic collaborationsAcademic collaborations
ConsortiaConsortia
Identify & Identify & clone targetclone target
Establish Establish biological biological functionfunction
High High throughput throughput screeningscreening
In vitro In vitro biological biological
profileprofile
ChemistryChemistry
In vivo In vivo diabetes diabetes modelsmodels
PLPcPLPc
Stable cell Stable cell lineslines
DiabetesDiabetesexpertiseexpertise
DiabetesDiabetesmodelsmodels
Evolution of a Diabetes Project Evolution of a Diabetes Project
ßß-cell -cell
- PGR - PGR - PCO- PCO- GLP-1.- GLP-1.
LiverLiver- Hepatic enzyme inh- Hepatic enzyme inh- PPAR- PPAR- Glucokinase - Glucokinase - Glucagon - Glucagon antagonists antagonists
- Insulin- Insulin- Insulin mimetics.- Insulin mimetics.
Muscle/FatMuscle/Fat
- Insulin - Insulin sensitiserssensitisers
- Insulin- Insulin- Insulin mimetics- Insulin mimetics- PPAR - PPAR - GLUT4- GLUT4- TNF - TNF - PTPase.- PTPase.
BrainBrain
- GLP-1.- GLP-1.
Diabetes – a Metabolic Syndrome Diabetes – a Metabolic Syndrome
GutGut- GLP-1.- GLP-1.
00
200200
400400
600600
800800
Q1 Q1 Q2 Q2 Q3 Q3 Q4 Q4 Q1 Q1 Q2 Q2 Q3 Q3 Q4 Q4 Q1 Q1 Q2 Q2 Q3 Q3 Q4 Q4 Q1 Q1 Q2 Q2 Q3 Q3 Q4 Q4
DKK millionDKK million Inhibitor indication:Inhibitor indication:
Estimated market Estimated market potential ofpotential of
USD 350 millionUSD 350 million
LaunchedLaunched
EU: EU: Feb Feb 19961996
USAUSA: : April April 19199999
Japan: Japan: May May 20002000
19971997 19981998 19991999 20002000
SaSales by quarterles by quarter
Coagulation Disorders (NovoSeven®)Coagulation Disorders (NovoSeven®)
19961996 19971997 19981998 19991999 20002000AustriaAustriaBelgiumBelgiumDenmarkDenmarkFinlandFinlandFranceFranceGermanyGermanyGreeceGreeceIrelandIrelandItalyItalyLuxembourgLuxembourgNetherlandsNetherlandsNorwayNorwayPortugalPortugalSpainSpainSwedenSwedenSwitzerlandSwitzerlandUKUKBahrainBahrainKuwaitKuwait
BrazilBrazilBulgariaBulgariaCroatiaCroatiaCyprusCyprusCzech Rep Czech Rep Hong KongHong KongIsraelIsraelJordanJordanMaltaMaltaNewZealandNewZealandRomaniaRomaniaSlovakiaSlovakiaS AfricaS AfricaYugoslaviaYugoslavia
HungaryHungaryLithuaniaLithuaniaPolandPolandSingaporeSingaporeSloveniaSloveniaS KoreaS KoreaTaiwanTaiwanThailandThailand
AustraliaAustraliaBosniaBosniaCanadaCanadaCosta RicaCosta RicaUSAUSA
ArgentinaArgentinaGuatamalaGuatamalaJapanJapanRussiaRussia
50 Countries
50 Countries
Orange = not yet launchedOrange = not yet launched
Registration StatusRegistration Status
Novoseven® Mechanism of ActionNovoseven® Mechanism of Action
(NovoSeven(NovoSeven®®))rFVIIarFVIIa
Activation of platelets Activation of platelets without NovoSevenwithout NovoSeven®®
Tissue factorTissue factor - only at site of injury- only at site of injury
FXaFXa
Platelet activationPlatelet activation
Thrombin activation and burstThrombin activation and burst
Local activation of platelets Local activation of platelets && clot formation withclot formation with NovoSevenNovoSeven®®
The key impact of The key impact of NovoSeven® is through NovoSeven® is through injury site selective platelet injury site selective platelet activation to ensure high activation to ensure high local thrombin formation local thrombin formation which secures a tight fibrin which secures a tight fibrin clotclot
Est number of orthotopic liver transplantationsEst number of orthotopic liver transplantations: : 8,0008,000
Est number of bleeding episodes: Est number of bleeding episodes: 6.0006.000
Est no of potential targeted severe bleeding episodes Est no of potential targeted severe bleeding episodes per year: per year: 100,000- 400,000100,000- 400,000
Est no of potential targeted severe bleeding episodes Est no of potential targeted severe bleeding episodes per year: per year: 200,000200,000
Est no of potential targeted severe bleeding episodes Est no of potential targeted severe bleeding episodes per year: per year: 13,00013,000
Est no of potential targeted severe bleeding episodes Est no of potential targeted severe bleeding episodes per year: per year: 600,000600,000
Est number of spontaneous upper GI bleeds: Est number of spontaneous upper GI bleeds: 170,000170,000
Liver resection*Liver resection*
TraumatologyTraumatology
Intra-cerebral Intra-cerebral bleedsbleeds
Bone marrow Bone marrow transplanttransplant
Reversal of anti-Reversal of anti-coagulant therapycoagulant therapy
Upper GI bleeds*Upper GI bleeds*
Orthotopic liver Orthotopic liver transplantation*transplantation*
Estimated Number of Bleeding EpisodesEstimated Number of Bleeding EpisodesClinical areaClinical area
* Patients with chronic liver disease* Patients with chronic liver disease
‘‘E’-commerce : Background & Strategy E’-commerce : Background & Strategy
We will utilise our device leadership to build a We will utilise our device leadership to build a platform for future e-commerce activitiesplatform for future e-commerce activities
Increasing focus on empowered patients & DTCIncreasing focus on empowered patients & DTC
Multiple retail/distribution formats developingMultiple retail/distribution formats developing
Strict regulation of pharma sales/distributionStrict regulation of pharma sales/distribution
Unique opportunity to gain experience with devicesUnique opportunity to gain experience with devices
Opportunities of gaining efficencies B2B & B2COpportunities of gaining efficencies B2B & B2C
Triple Bottom LineTriple Bottom Line
Environmentally Environmentally soundsound
Socially Socially ResponsibleResponsible
EconomicallyEconomicallyviableviable
Triple Bottom Line (continued)Triple Bottom Line (continued)
To obtain trust and licence to operate and innovate To obtain trust and licence to operate and innovate
To attract and retain the most talented peopleTo attract and retain the most talented people
To minimise risks and create possibilities To minimise risks and create possibilities
To understand signs from stakeholdersTo understand signs from stakeholders
To be part of defining new legislation and requirementsTo be part of defining new legislation and requirements
To meet rising demand from investorsTo meet rising demand from investors(eg Dow Jones/ Sustainable Group Index)(eg Dow Jones/ Sustainable Group Index)
Why combine business, environment, and Why combine business, environment, and stakeholders?stakeholders?