Novo Nordisk: 2019 profit up, shares rise
(CercleFinance.com) - Denmark's Novo Nordisk posted higher 2019 profit on Wednesday, reflecting an accelerated sales growth in international operations, with its shares up 2% after the results.
The world's largest diabetes care company said operating profit rose to 52.5 billion Danish kroner last year, from 47.2 billion in 2018. Meanwhile, its sales increased by 9% to 122 billion Danish kroner.
UBS analysts said in a note that the results "were good for the GLP-1 franchise, weak for the insulins and reflect the start of an investment cycle."
Regarding its 2020 outlook, sales growth is expected to be 3%-6% at constant exchange rates, and operating profit growth is expected to be 1%-5%, Novo said.
By 11.30 CET Novo's shares were trading 2% higher, outperforming the Copenhagen top-25 OMX index which was up 1.6%.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The world's largest diabetes care company said operating profit rose to 52.5 billion Danish kroner last year, from 47.2 billion in 2018. Meanwhile, its sales increased by 9% to 122 billion Danish kroner.
UBS analysts said in a note that the results "were good for the GLP-1 franchise, weak for the insulins and reflect the start of an investment cycle."
Regarding its 2020 outlook, sales growth is expected to be 3%-6% at constant exchange rates, and operating profit growth is expected to be 1%-5%, Novo said.
By 11.30 CET Novo's shares were trading 2% higher, outperforming the Copenhagen top-25 OMX index which was up 1.6%.
Copyright (c) 2020 CercleFinance.com. All rights reserved.