Usa was Novo Nordisk A S’s largest region in fiscal 2025, bringing in $173.17B of $309.06B (56%).
| Geography | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|
| Usa | — | $127.53B | $167.40B | $173.17B | |||
| North America Operations | $91.11B | — | — | — | |||
| Eucan | — | $48.15B | $57.55B | $66.09B | |||
| Emea | $44.24B | — | — | — | |||
| Emerging Markets | — | $24.78B | $29.52B | $30.44B | |||
| Rest Of World | $25.40B | — | — | — | |||
| Apac | — | $15.11B | $17.44B | $20.71B | |||
| Region China | $16.21B | $16.69B | $18.50B | $18.66B | |||
| China | — | — | — | — | |||
| Total | $176.95B | $232.26B | $290.40B | $309.06B |
Novo Nordisk A S brought in $309.06B from its five regions in fiscal 2025, the year ended December 31, 2025. That was up 6.4% from $290.40B in fiscal 2024. Usa was the largest at $173.17B (56.0%), ahead of Eucan at $66.09B (21.4%) and Emerging Markets at $30.44B (9.8%). The other two regions brought in $39.37B combined.
Compared with fiscal 2024, Apac grew fastest, up 18.8% to $20.71B. Every region above 2% of revenue grew.
Novo Nordisk A S began breaking out Usa in fiscal 2023, Eucan in fiscal 2023, Emerging Markets in fiscal 2023 and Apac in fiscal 2023. Novo Nordisk A S stopped reporting North America Operations ($91.11B in fiscal 2022), Emea ($44.24B in fiscal 2022) and Rest Of World ($25.40B in fiscal 2022) as separate regions.
Obesity & Diabetes Care was Novo Nordisk A S’s largest segment in fiscal 2025, bringing in $289.46B of $309.06B (94%).
| Segments [axis] | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|
| Obesity & Diabetes Care | — | $215.10B | $271.76B | $289.46B | |||
| Diabetes & Obesity Care | $156.41B | — | — | — | |||
| Biopharm | — | — | — | — | |||
| Rare Disease | $20.54B | $17.16B | $18.64B | $19.61B | |||
| Total | $176.95B | $232.26B | $290.40B | $309.06B |
Novo Nordisk A S brought in $309.06B from its two segments in fiscal 2025, the year ended December 31, 2025. That was up 6.4% from $290.40B in fiscal 2024. Obesity & Diabetes Care was the largest at $289.46B (93.7%), ahead of Rare Disease at $19.61B (6.3%).
Compared with fiscal 2024, Obesity & Diabetes Care grew 6.5% to $289.46B and Rare Disease grew 5.2% to $19.61B.
Novo Nordisk A S began breaking out Obesity & Diabetes Care in fiscal 2023, when it brought in $215.10B. Novo Nordisk A S stopped reporting Diabetes & Obesity Care as a separate segment after fiscal 2022, when it brought in $156.41B.
Total Diabetes Care was Novo Nordisk A S’s largest revenue line in fiscal 2019, bringing in $12.51B of $32.42B (39%).
| Products And Services | FY 2019 |
|---|---|
| Total Diabetes Care | $12.51B |
| Total Insulin | $9.97B |
| Novomix & Novolog Mix | $4.30B |
| Human Insulin | $2.85B |
| Other Diabetes Care | $1.65B |
| Long-Acting Insulin | $1.06B |
| Tresiba | $87.00M |
| Total | $32.42B |
Novo Nordisk A S brought in $32.42B from its seven revenue lines in fiscal 2019, the year ended December 31, 2019. Total Diabetes Care was the largest at $12.51B (38.6%), ahead of Total Insulin at $9.97B (30.7%) and Novomix & Novolog Mix at $4.30B (13.3%). The other four revenue lines brought in $5.64B combined.
Novo Nordisk A S (NVO) reports its revenue by geography, by segments [axis] and by products and services. In fiscal 2025, Usa was its largest region, bringing in $173.17B (56.0% of the total), followed by Eucan at $66.09B (21.4%).
Usa was Novo Nordisk A S's largest region in fiscal 2025, bringing in $173.17B, or 56.0% of the $309.06B total across its five regions.
Obesity & Diabetes Care was Novo Nordisk A S's largest segment in fiscal 2025, bringing in $289.46B, or 93.7% of the $309.06B total across its two segments.
Total Diabetes Care was Novo Nordisk A S's largest revenue line in fiscal 2019, bringing in $12.51B, or 38.6% of the $32.42B total across its seven revenue lines.
Among Novo Nordisk A S's regions that make up at least 2% of revenue, Apac grew fastest in fiscal 2025, up 18.8% from $17.44B to $20.71B.
Every figure comes from Novo Nordisk A S's annual financial filings, as reported. Each line keeps the name Novo Nordisk A S gives it, and years follow its fiscal calendar.
Novo Nordisk A S's revenue by geography goes back to fiscal 2019, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.