OSLO (dpa-AFX) - Novo Nordisk (NVO) reported that its net profit for the first-quarter rose to 11.90 billion Danish Kroner or 5.05 Kroner per share from 10.45 billion Kroner or 4.36 Kroner per share last year.
Net sales were 33.88 billion Kroner up from 29.29 billion Kroner in the previous year.
Sales in International Operations increased by 19% in Danish kroner, driven by growth in all areas. Sales in North America Operations increased by 12% in Danish kroner. In both operating units, sales were impacted by COVID-19-related stocking.
For the 2020 outlook, sales growth is still expected to be 3-6% at CER, and operating profit growth is still expected to be 1-5% at CER. The maintained outlook reflects the negative impacts from COVID-19, largely offset by underlying performance.
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