Strong sales growth for Novo Nordisk

1 November 2019

Danish diabetes care giant Novo Nordisk (NOV: N) this morning posted financials for the first nine months of 2019, showing that sales increased by 9% as reported and by 5% at constant exchange rates (CER) to 89.6 billion Danish kroner ($13.29 billion). Sales in International Operations increased by 13% (11% at CER), driven by growth in all regions. Sales in North America Operations increased by 6% (down 1% at CER).

Operating profit rose 11% (+5% CER) to 40.61 billion kroner with net profit flat at 30.23 billion kroner, Diluted earnings per share (EPS) were up 2% at 12.68 kroner.

Third quarter sales rose 9.1% to 30.28 billion kroner against analysts’ expectations of 30.39 billion, and operating profit of 12.9 billion kroner was below the 13.1 billion kroner forecast by analysts in a Refinitiv poll. Shares of Novo Nordisk edged up 0.7% to 368.40 kroner in early trading.

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