1st-qtr earnings down at Novo Nordisk but better than expected

29 April 2016
novo-nordisk-big

Danish diabetes care giant Novo Nordisk (NOV: N) reported strong first-quarter 2016 revenue growth this morning, with sales up 8% (+9% local currencies) at 27.2 billion Danish kroner ($4.12 billion).

Earnings per share of 3.71 kroner were down 2.1% from the like 2015 period, but better than the 3.62 kroner predicted by analysts. Net profit decreased 4% to 9.46 billion kroner, beating the expectations of analysts polled by FactSet of 9.16 billion kroner. Adjusted for the partial divestment of NNIT, net profit and diluted earnings per share increased by 20% and 23%, respectively.

Lars Rebien Sørensen, president and chief executive, commented: "We are pleased with the results during the first quarter of 2016 where Victoza and Tresiba both delivered significant growth. Furthermore, we are very encouraged by the successful outcomes of the SWITCH, LEADER and SUSTAIN trials, which further strengthen the clinical profiles of Tresiba, Victoza and semaglutide."

This article is accessible to registered users, to continue reading please register for free.  A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Login to your account

Become a subscriber

 

£820

Or £77 per month

Subscribe Now
  • Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
  • Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
  • Daily roundup of key events in pharma and biotech.
  • Monthly in-depth briefings on Boardroom appointments and M&A news.
  • Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK

Companies featured in this story

More ones to watch >


Today's issue

Company Spotlight





More Features in Pharmaceutical