Novo Nordisk: stock up as targets raised
(CercleFinance.com) - On Wednesday Novo Nordisk, the world's leading diabetes treatment company, reported solid financial performance for the first six months of the year and raised its annual guidance.
Novo's shares were up over 4% late on Wednesday in Copenhagen, the biggest winner on the OMXC25 index, outperforming the European pharmaceutical stock index, which was up only 0.5%.
For FY 2021, the Danish laboratory now expects to achieve sales growth of 10% to 13%, with operating profit up by 9% to 12%, compared with 6% to 10% and 5% to 9% respectively previously.
In a statement, the group justifies its optimism by the successful US launch of Wegovy, a new treatment for obesity.
As always with Novo, its guidance is in local currencies.
Its H1 operating profit came in at 29.8 billion Danish kronor (about 4 billion euros), pretty flat relative to the 30.1 billion Danish kronor posted a year ago.
Meanwhile, revenues rose by 5% to 66.8 billion Danish kronor, including a 12% increase in local currency.
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