Novo Nordisk's 1st-qtr sales increased by 27%

Danish diabetes care giant Novo Nordisk’s (NOV: N) shares were down 4.8% at 1,069.40 kroner this morning, despite the company reporting first-quarter 2023 financials, showing that net sales increased 27% (+25% at constant currencies) to 53,367 million kroner ($7.91 billion).

Operating profit increased by 31% in Danish kroner and by 28% at CER to 25.0 billion kroner. Net profit was up 30% at 19,814 million kroner, with earnings per share (EPS) rising 41% to 8.78 kroner.

Sales in North America Operations increased by 47% in kroner (41% at CER). Wholesaler inventory movements in the US positively impacted sales growth. Sales in International Operations increased by 9% in kroner (10% at CER).