Seeking Alpha

Novo Nordisk net profit rises 8%

  • Novo Nordisk's (NVO) Q1 net profit increased 8% to 6.46B Danish kroner ($1.2B).
  • Sales +2% to 20.34B kroner, slightly missing consensus.
  • Excluding the impact of forex fluctuations, sales +7% in local currencies.
  • Novo Nordisk lowered its FY sales-growth guidance in local currencies to 7-10% from a prior forecast of 8-11%. The insulin company maintained its outlook for operating-profit growth of 10%.
  • Earnings were hampered by Express Scripts excluding Novo's Victoza and NovoLog diabetes treatments from its "preferred drug" list in January.
  • Share are -3.2% in Copenhagen. (PR)
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