Novo Nordisk reports strong 1st-half sales and profits growth

6 August 2020

Danish diabetes care giant Novo Nordisk (NOV: N) today posted financial results for the first half of 2020, with net sales coming in at 63.88 Danish kroner ($10.1 billion), a rise of 8% as reported and 7% at constant exchange rates.

Sales growth was positively impacted by COVID-19-related stocking, largely offset by fewer patients initiating treatment.

Operating profit for the six months was 30.14 billion kroner, up 9%, with net profit rising 12% to 22.52 billion kroner, Diluted earnings per share (EPS) were 9.58 kroner, up 14%. Initial market reaction saw a 1% rise in Novo Nordisk’s share price, but tis was eliminated by late morning.

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