Novo Nordisk drops 4.5% as 4th-qtr results miss estimates, cuts long-term profit view

3 February 2016
novo-nordisk-big

Shares in Danish insulin giant Novo Nordisk (NOV: N) fell nearly 4.5% in morning trade on the Copenhagen Stock Exchange after the company posted quarterly results below expectations and lowered its long-term profit outlook.

Results were also impacted by the slowdown in sales of diabetes drug Victoza (liraglutide injection), on the back of market competition.

Novo Nordisk said its long-term target for operating profit growth has now been set at 10%, down from 15% forecast earlier, but no target for operating margin development has been established, as the operating margin is expected to stay at its current level around 44%. For 2016, the company sees sales growth of 5%-9%. Operating profit is also expected grow 5%-9%, it said in a statement.

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