Record 3rd-qtr financials from Novo Nordisk

2 November 2023

Danish diabetes care giant Novo Nordisk (NOV: N) today reported record sales and operating profits for the third quarter of 2023, but cautioned it would keep in place restrictions on supplies of its much in demand Wegovy(semaglutide) weight-loss drug. The firm’s shares edged up 2.5% to 705.20 Danish kroner.

Sales grew 29% year-on-year to 58.7 billion kroner ($8.33 billion), while operating profit (EBIT) rose 33% to 26.9 billion kroner, both in line with preliminary numbers released last month. Earnings per share were 5.00 kroner, rising 58% from the same period a year earlier.

Wall Street analysts expected Novo to report earnings of 4.81 kroner per share on sales of 57.8 billion kroner for the third quarter, according to FactSet.

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