Disappointing results and pricing pressure weigh on Novo Nordisk

8 August 2018

Shares in the world’s leading diabetes drug producer were down by 4% on Wednesday lunchtime after the company revealed its latest financial results and details on its US prices for next year.

Net sales at Novo Nordisk (NOV: N) were 27.41 billion Danish kroner ($4.26 billion) for the second quarter of 2018, down 4% on the same period of 2017 and below analysts’ expectations of 27.7 billion kroner.

Basic earnings per share rose 6% to 4.27 kroner but operating profit slipped 9% to 12.2 billion kroner, which was also short of analysts’ predictions, as were sales of its Tresiba (insulin degludec), Victoza (liraglutide) and Ozempic (semaglutide) diabetes drugs.

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