Novo Nordisk sees strong first-half sales growth

Reporting financial results for the first half of 2022 late yesterday, Danish diabetes care giant Novo Nordisk (NOV: N) said that sales increased by 25% in Danish kroner and by 16% at constant exchange rates to 83.3 billion kroner ($11.4 billion) in the six months.

Operating profit increased by 26% in Danish kroner and by 14% at constant exchange rates (CER) to 37.5 billion kroner. Novo Nordisk reported second-quarter operating profit of 18.4 billion kroner, just above the 18.3 billion forecast by analysts, according to Refinitiv data. However, the New York traded shares of the company closed down 12.7% at $99.91.

Sales in International Operations increased by 15% in Danish kroner (10% at CER), and sales in North America Operations increased by 36% in Danish kroner (24% at CER).