Stockpiling spurs sales at Novo Nordisk in first quarter

6 May 2020

Pandemic-based stockpiling among people with diabetes helped lift revenues beyond analysts’ expectations for Denmark’s biggest drugmaker, Novo Nordisk (NOV: N).

First-quarter 2020 sales were up 14% at 33.9 billion Danish kroner ($4.9 billion), with the revenue increase within the firm’s diabetes and obesity care unit reaching 15%, compared with the same period of 2019.

International sales were up 19%, while sales in the USA were up 12%. The earnings per share (EPS) figure was 5.05 kroner, up from 4.36 in first-quarter 2019.

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