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Novo Nordisk Q4 net profit +5%; raises guidance

  • Novo Nordisk (NVO) Q4 net profit +5% to 6.05B Danish kroner (DKK) ($1.1B), missing consensus of DKK6.26B
  • Sales +3.5% to DKK21.70B.
  • Sales breakdown: Victoza, which stimulates natural insulin production, +19% to DKK3.23B, topping estimates for DKK3.09B; modern insulins +7% to DKK10.1B; hemophilia therapy NovoSeven -7% to DKK2.26B vs estimates of DKK2.36B.
  • Operating margin slipped to 33.9% from 36.1% a year earlier.
  • Novo Nordisk raised its 2014 guidance, due to strong sales of the company's portfolio of modern insulin and Victoza. The firm expects operating profit to rise 10% and sales, as measured in local currencies, to grow 8-11%. Previously, Novo Nordisk said it expected high single-digit growth for both metrics.
  • Novo Nordisk plans to increase its dividend by 25% to DKK4.50 a share and said it could repurchase up to DKK15B in stock over the next year.
  • Appointed Kare Schultz as President and COO.
  • Shares -0.2% in Copenhagen. (PR)

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