Net profit rose from 10.89 to 13.59 billion crowns thanks to high demand for diabetes and obesity drugs, the company said. It beat the consensus forecast of 13.08 billion kroner by analysts polled by FactSet. With growth of 25 percent to 48.09 billion crowns, sales exceeded analysts’ expectations (47.26 billion crowns). While revenue from drugs to treat diabetes and obesity rose, in some cases sharply, insulin sales fell by 12 percent.
For 2023, Novo Nordisk expects sales growth and an increase in operating profit in a range of 13 to 19 percent in local currencies. Nominal revenue growth is expected to be about 4 percentage points below comparable growth and reported operating profit growth is about 5 percentage points below comparable growth.
Novo Nordisk proposed a final dividend of 8.15 kroner, bringing the total dividend for 2022 to 12.40 kronor (previous year: 10.40).
In Copenhagen, shares in Novo Nordisk initially rose significantly on Wednesday. In the meantime, however, the profits have melted again and the paper is at times at the previous day’s level with an increase of only 0.06 percent to 943.6 Danish kroner.
By Dominic Chopping
STOCKHOLM (Dow Jones)
Leverage must be between 2 and 20
No data
More news about Novo Nordisk
Image sources: Novo Nordisk