Latest news with #DKK
Yahoo
13 hours ago
- Business
- Yahoo
Novo Nordisk lowers sales and operating profit outlook for 2025
Bagsværd, Denmark, 29 July 2025 – Novo Nordisk today announced sales and operating profit growth at constant exchange rates (CER) for the first six months of 2025 and updated full-year sales and operating profit outlook at CER. In the first six months of 2025, Novo Nordisk's sales increased by 18% and operating profit increased by 29%, both at CER. Sales growth in the first six months of 2025 was positively impacted by gross-to-net sales adjustments related to prior years, including an adjustment related to the 340B provision of around DKK 3 billion in the second quarter of 2025. Operating profit growth is positively impacted by the ocedurenone impairment in the second quarter of 2024, partially countered by impacts related to the acquisition of the three Catalent manufacturing sites. Profit and loss Second quarter 2025 First six months 2025 Sales growth (CER) 18% 18% Operating profit growth (EBIT) (CER) 40% 29% Diluted earnings per share (in DKK) 5.96 12.49 Novo Nordisk has updated the full-year outlook for 2025, with sales growth now expected to be 8-14% and operating profit growth expected to be 10-16%, both at CER. Sales and operating profit growth reported in Danish kroner is now expected to be 4 and 7 percentage points lower than at CER, respectively, primarily due to depreciation of the USD/DKK exchange rate1. Outlook 2025 (CER) Expectations 29 July Expectations 7 May Sales growth 8-14% 13-21% Operating profit growth (EBIT) 10-16% 16-24% The lowered sales outlook for 2025 is driven by lower growth expectations for the second half of 2025. This is related to lower growth expectations for Wegovy® in the US obesity market, lower growth expectations for Ozempic® in the US GLP-1 diabetes market, as well as lower-than-expected penetration for Wegovy® in select IO markets. For Wegovy® in the US, the sales outlook reflects the persistent use of compounded GLP-1s, slower-than-expected market expansion and competition. Despite the expiry of the FDA grace period for mass compounding on 22 May 2025, Novo Nordisk market research shows that unsafe and unlawful mass compounding has continued, and that multiple entities continue to market and sell compounded GLP-1s under the false guise of 'personalisation'. Novo Nordisk is pursuing multiple strategies, including litigation, to protect patients from knockoff 'semaglutide' drugs. Novo Nordisk is deeply concerned that, without aggressive intervention by federal and state regulators and law enforcement, patients will continue to be exposed to the significant risks posed by knockoff 'semaglutide' drugs made with illicit or inauthentic foreign active pharmaceutical ingredients. As unsafe and unlawful mass compounding continues, the Wegovy® penetration within the cash channel has been lower-than-expected. Within this channel, NovoCare® Pharmacy was launched in March 2025. Wegovy® prescriptions via NovoCare® Pharmacy (including TeleHealth collaborations) amount to around 11,000 total weekly prescriptions, in addition to around 20,000 weekly prescriptions in the retail cash channel. Novo Nordisk will continue to invest in the expansion of direct-to-patient initiatives such as NovoCare® Pharmacy and further collaborations with telehealth organisations. Within the insured channel, despite the initiation of new commercial activities of Wegovy® in the first half of 2025, the sales outlook also reflects lower-than-expected penetration for Wegovy®, mainly due to slower market expansion and competition. Novo Nordisk continues to engage in additional commercial initiatives and expects a regulatory decision around the Wegovy® MASH indication during the second half of 2025. Moreover, Novo Nordisk continues to expect a positive contribution from changes to the CVS national template formulary effective 1 July 2025, where Wegovy® is now the only GLP-1 medicine covered for obesity. For Ozempic®, the updated outlook is negatively impacted by competition in the US. Novo Nordisk continues to invest in commercial activities and label updates towards driving further market penetration of Ozempic®. Finally, while IO Wegovy® sales are growing at high rates and launches are progressing, the sales outlook reflects lower-than-expected penetration for Wegovy® in select IO markets due to slower market expansion and competition. With around 1 billion people living with obesity globally and only a few million on treatment, the outlook reflects a continued global rollout of Wegovy® to more markets. The updated expectation for operating profit growth reflects the lower sales growth outlook, partially countered by reduced spending. A negative mid-single-digit operating profit growth impact related to the acquisition of the three former Catalent manufacturing sites remains included in the guidance. Novo Nordisk now expects financial items (net) for 2025 to amount to a gain of around DKK 3 billion. This is mainly driven by expected gains on hedged currencies, primarily the US dollar, partially offset by interest expenses related to funding of the debt-financed Catalent transaction. Finally, the free cash flow is now expected to be DKK 35-45 billion, reflecting the lower-than-planned expected sales growth, mainly driven by lower volume growth of GLP-1-based treatments in the US and related cash flow implications amplified by the US gross-to-net system. Novo Nordisk's full disclosure of the financial results for the first six months of 2025 will be published on 6 August 2025, where more information will be available. The above expectations are based on additional assumptions, including assumptions described on pages 14 and 15 of the Financial report for the first three months of 2025 (Company Announcement No 14/2025). The forward-looking statements on page 23 in the Financial report for the first three months of 2025 (Company Announcement No 14/2025) also apply to this company announcement. Conference call Novo Nordisk will host a conference call for investors at 14.30 CEST on 29 July 2025, corresponding to 8.30 am EST. For more information on how to listen, please visit the investor section of About Novo Nordisk Novo Nordisk is a leading global healthcare company founded in 1923 and headquartered in Denmark. Our purpose is to drive change to defeat serious chronic diseases built upon our heritage in diabetes. We do so by pioneering scientific breakthroughs, expanding access to our medicines and working to prevent and ultimately cure disease. Novo Nordisk employs about 77,400 people in 80 countries and markets its products in around 170 countries. Novo Nordisk's B shares are listed on Nasdaq Copenhagen (Novo-B). Its ADRs are listed on the New York Stock Exchange (NVO). For more information, visit Facebook, Instagram, X, LinkedIn and YouTube. Contacts for further information Media: Ambre James-Brown +45 3079 9289abmo@ Liz Skrbkova (US)+1 609 917 0632lzsk@ Investors: Jacob Martin Wiborg Rode +45 3075 5956 jrde@ Sina Meyer +45 3079 6656 azey@ Max Ung +45 3077 6414 mxun@ Frederik Taylor Pitter (US)+1 609 613 0568 fptr@ Publication of inside information pursuant to Market Abuse Regulation, Article 17 1 Based on exchange rates of 23 July 2025 with e.g. a USD/DKK spot rate of 635. Full currency overview to be released as part of Novo Nordisk's full disclosure of the financial results on 6 August 2025 Company announcement No 18 / 2025 Attachment CA250729-Q2-Financial-Outlook


Iraq Business
3 days ago
- Business
- Iraq Business
Denmark Supporting De-Mining in Iraq
UNMAS welcomes a new contribution from the Government of Denmark in support of the Iraqi mine action sector The United Nations Mine Action Service (UNMAS) in Iraq welcomes a generous contribution of DKK 22,000,000 (approximately US$ 3,4 million) from the Government of Denmark. This funding will support mine action efforts assisting the Government of Iraq (GoI) in protecting civilians from the threat of explosive ordnance (EO) and enabling humanitarian, socio-economic, and reconstruction efforts in EO-affected areas. Iraq remains one of the most EO contaminated countries in the world. According to the national mine action authorities - the Directorate for Mine Action (DMA) and the Iraqi Kurdistan Mine Action Agency (IKMAA) - more than 2,723 square kilometers are contaminated with landmines, cluster munitions, improvised explosive devices, and other types of explosive remnants of war across Iraq, including the Kurdistan Region of Iraq. EO poses a major threat to public safety and hinders access to basic services, livelihood opportunities, and critical infrastructure. The new contribution from the Government of Denmark will enable UNMAS Iraq to continue supporting national mine action authorities in building a sustainable and well-coordinated mine action sector. UNMAS remains committed to strengthening the nationalisation of the mine action response by implementing and managing survey and clearance operations, as well as explosive ordnance risk education (EORE) activities, in the most heavily affected and vulnerable areas of Iraq. " UNMAS Iraq deeply appreciates the generous contribution from the Government of Denmark. The contributions enable us to continue assisting the DMA and IKMAA, as well as Iraqi national operators, in creating a safe environment for all Iraqis. Under Denmark's Peace and Stabilisation Programme 2022-2025, Denmark has contributed approximately US$ 11.5 million. UNMAS looks forward to further cooperation starting from 2026, " said Pehr Lodhammar, UNMAS Chief Mine Action Programme. Since 2015, the Government of Denmark has contributed over US$ 41 million to the UNMAS Iraq programme, making Denmark one of its most longstanding and committed donors. Denmark's continued support plays a critical role in ensuring progress towards a safer Iraq, where affected communities can rebuild their lives free from the threat of explosive ordnance. (Source: UNMAS)


The Star
5 days ago
- Entertainment
- The Star
Finas committed to take local talents to international stage
Finas chairman Datuk Hans Isaac said the achievements of local actors in the foreign film industry are gaining prominence and need to be supported comprehensively. Photo: Hand Isaac/Instagram The National Film Development Corporation of Malaysia (Finas) is committed to boosting the presence of local talents and works at the international level through various strategic initiatives, including support funds, participation in world film festivals and cross-government agency collaboration. Its chairman Datuk Hans Isaac said the achievements of local actors in the foreign film industry are gaining prominence and need to be supported comprehensively to become a catalyst for the development of the country's creative industry. "Finas is very proud and fully supports the success of local production companies and individual talents who have succeeded in penetrating the international market. This success proves that our creative industry can be accepted and compete at the international level," he said. He added that among the main initiatives provided by Finas are the Creative Content Fund (DKK), Film In Malaysia Incentive (FIMI), human capital development funds and international market participation funds, as well as promotions and facilities for high-potential works. Hans said Finas also provides international synergy routes through participation in major world film festivals and markets such as Cannes, Berlinale and Busan, as well as establishing collaborations with agencies such as the Ministry of Investment, Trade and Industry (MITI), embassies and foreign agencies as facilitators for local industry players. He said the long-term goal is to produce more successors to international industry figures such as Tan Sri Michelle Yeoh and Henry Golding, as well as behind-the-scene professionals. Among the local talents currently stealing attention abroad is young actor Irfan Zaini who has the opportunity to star in a film in India with the country's famous star, Vijay, thus making him one of Malaysia's new faces on the global stage. Irfan, who was previously active on the local screen, described cross-country collaborations as the best space to gain experience and bring Malaysia's name to a higher level in the film world. Commenting on the development, Hans described Irfan's success as a tribute to the industry and a testament to the abilities of local people if given the opportunity and support. "I hope Irfan will take this opportunity to bring glory to the country's creative industry and be an example to other industry players. Finas is very proud of his achievements," he said. – Bernama


Daily Express
6 days ago
- Entertainment
- Daily Express
Creative industry as new economic driver: Hajiji
Published on: Thursday, July 24, 2025 Published on: Thu, Jul 24, 2025 Text Size: Hajiji said the DKK, introduced by the Federal Government through the Ministry of Communications and Finas, offers a wide platform for Sabahans to showcase their stories, culture and heritage through various media such as films, documentaries and television programmes. Kota Kinabalu: The State Government is committed to strengthening the local creative industry as a new economic driver and a catalyst in advancing Borneo's cultural narrative on both the national and international stage. Chief Minister Datuk Seri Hajiji Noor said the State Government, through the Sabah Maju Jaya (SMJ) Development Plan, is focusing on developing digital economy and knowledge-based industries, including creative content. He said several initiatives are currently underway to upgrade creative facilities and support content training centres and incubators in Kota Kinabalu, Keningau and Sandakan. These efforts are being coordinated through close collaboration with federal agencies such as the National Film Development Corporation Malaysia (FInas), which provides the Creative Content Fund (DKK) to support the local creative industry. 'This fund is crucial in helping artists and production houses create content that reflects Sabah's identity, thereby promoting folk tales, history and the diversity of indigenous languages to a wider audience,' he said during the Presentation Ceremony of Letters of Acceptance for the Sabah Creative Content Fund (DKK), here, on Tuesday. His speech was delivered by Assistant Minister to the Chief Minister Datuk Nizam Abu Bakar Titingan. Hajiji said the DKK, introduced by the Federal Government through the Ministry of Communications and Finas, offers a wide platform for Sabahans to showcase their stories, culture and heritage through various media such as films, documentaries and television programmes. 'Sabah possesses extraordinary socio-cultural diversity with more than 30 ethnic groups and over 200 sub-ethnic groups. This makes the State one of the richest regions in terms of oral, visual and narrative culture, deserving recognition as a source of authentic content. 'In fact, Sabah's natural beauty whether on land, sea, or in the mountains also offers a tremendous advantage when translated into creative content that can captivate both local and international audiences,' he said. Hajiji also expressed appreciation to the Minister of Communications, Datuk Fahmi Fadzil, and the Ministry's team along with Finas for choosing Sabah as the host for this high-impact programme. He described the event as a clear demonstration of the Federal Government's commitment to expanding the nation's creative ecosystem beyond the Klang Valley while also recognising the potential of Sabah and Sarawak not just as filming locations but as hubs for the creation of high-value content. 'Initiatives such as the Borneo TV Programme Fund and the Joint Documentary Fund with Borneo TV are strategic moves that position Borneo at the heart of fresh and original content. We want to see more creative works born from Borneo, not just for Malaysia, but for the world,' he said. Hajiji also praised the achievements of Sabah's youths in producing quality works through platforms such as the Sabah Film Lab, Mini Film Fest and the Kota Kinabalu International Film Festival (KKIFF), which have successfully gained recognition from audiences and juries both domestically and abroad. 'I encourage more young people, especially those from rural areas, to be brave in trying and making use of the opportunities this fund provides. Stories of one's hometown, family history and local culture can become great works if translated well,' he said. Hajiji also urged that creative content be used as a bridge for unity, a source of development inspiration and a cultural mirror of Sabah within the framework of Malaysia Madani. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia


Daily Express
6 days ago
- Business
- Daily Express
42 Creative Content Fund applications from Sabah and Sarawak approved
Published on: Thursday, July 24, 2025 Published on: Thu, Jul 24, 2025 By: Kazalinah Kamaludin Text Size: Nizam (sixth, right) and Fahmi (centre) with recipients of the 2025 Creative Content Fund (DKK) and Borneo TV Programme Fund at the DKK Sabah award ceremony. Kota Kinabalu: A total of 42 Creative Content Fund (DKK) applications from production companies in Sabah and Sarawak, worth RM7.43 million, have been approved from 2022 up to this month. Communications Minister Datuk Fahmi Fadzil said the approved applications covered various categories, including feature and short films, documentaries, marketing, scriptwriting and post-production, creating over 1,245 job opportunities. 'As of this month, the National Film Development Corporation Malaysia (Finas) has also received 36 applications for the Borneo TV Programme Fund and 24 for the Post-Production Fund. 'All applications are evaluated transparently and with integrity by a committee comprising professional panelists and ministry representatives,' he said at the presentation of Creative Content Fund letters of acceptance to Sabah's creative industry players in Sabah, here, Tuesday night. Also present were Assistant Minister to the Chief Minister, Datuk Nizam Abu Bakar Titingan, Communications Ministry Secretary-General Datuk Mohamad Fauzi Md Isa, Finas Chairman Datuk Hans Isaac, Finas Chief Executive Officer Datuk Azmir Saifuddin Mutalib, Malaysian National News Agency (Bernama) Chief Executive Officer Datin Paduka Nur-ul Afida Kamaludin and Information Department Director-General Julina Johan. Fahmi said under the DKK, 14 local production companies have been offered the Borneo TV Programme Fund, including six from Sabah. He said the six Sabah companies received approvals amounting to RM1.15 million, expected to create over 200 new jobs. 'As for the Post-Production Fund, nine companies received offers, one of which is from Sabah. For Sabah, one project was approved with a value of nearly RM240,000, adding value to the post-filming process,' he said. He added that the total amount approved for the seven Sabah companies under the Borneo TV Programme Fund and the Post-Production Fund stood at RM1.39 million. Fahmi said various success stories have emerged through government grants and incentives, including the film 'Blood Brothers: Bara Naga', which grossed RM73.6 million, 'Bleat!' which made a mark at Cannes, and most recently, 'Ejen Ali The Movie 2', which opened in Indonesia with over 200,000 viewers in its first week. Fahmi added that the Communications Ministry, through Finas, has agreed to collaborate with Borneo TV via the Borneo TV Programme Fund, with content produced by its recipients to also be aired on the Borneo TV platform. Meanwhile, Chief Minister Datuk Seri Hajiji Noor said the DKK has opened vast opportunities for the people of Sabah to showcase their stories, culture and heritage through various mediums such as films, documentaries and television programmes. 'Sabah possesses extraordinary socio-cultural diversity – with more than 30 ethnic groups and over 200 sub-ethnicities. This makes the State one of the richest regions in terms of oral, visual and narrative culture, which deserves attention as a source of authentic content,' he said. He added that Sabah's natural beauty gives it a distinct advantage to be translated into creative content capable of attracting both local and international audiences. The text of his speech was read out by Nizam. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia