Novo Nordisk's 9-months sales and operating profit up 6%

Danish diabetes care giant Novo Nordisk (NOV: N) today posted financial results for the first nine months of 2020, showing that operating profits increased 6% (+7% at constant exchange rates) to 42.95 billion Danish kroner ($6.83 billion).

Net profit was up 9% at 32.82 kroner, and diluted earnings per share (EPS) were up 10% at 14.00 kroner. Novo Nordisk’s hares were down 1.3% at 41.33 kroner by midday.

Sales for the nine months rose 6% in kroner and by 7% at CER to 94.8 billion kroner. Sales in International Operations increased by 9% in kroner (12% at CER), and sales in North America Operations increased by 2% in kroner (+2% at CER). Sales growth was negatively impacted by COVID-19 as fewer patients initiated treatment, partially offset by COVID-19-related stocking in the first quarter, the company noted.