COPENHAGEN (dpa-AFX) - Novo Nordisk A/S (NVO) Wednesday said its net profit for the first half increased by 16 percent to DKK 45.457 billion from DKK 39.242 billion in the same period a year ago, with sales growth of 24 percent. The pharma giant also raised its full-year sales outlook while lowering operating profit guidance.
Earnings per share rose to DKK 10.17 from DKK 8.71 last year.
Operating profit was DKK 57.780 billion, up 18 percent from DKK 48.895 billion a year ago.
Sales for the period grew 24 percent to DKK 133.409 billion from DKK 107.667 billion in the previous year, primarily on sales in Diabetes and Obesity care .
Sales within Diabetes and Obesity care increased by 26 percent to DKK 125.0 billion, mainly driven by GLP-1 diabetes sales growth of 32 percent and Obesity care increase by 37 percent. Rare disease sales decreased by 4 percent.
Looking ahead to fiscal 2024, the company now expects sales to grow in the range of 22 percent- 28 percent at CER, up from the previous outlook of 19 percent-27 percent at CER.
Operating profit for the year is now expected to grow 20 percent- 28 percent, at CER, lower than 22 percent -30 percent at CER guided earlier.
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