Novo Nordisk H1 Profit Increases; Raises Full Year Outlook

(RTTNews) - Novo Nordisk (NVO) reported that its first-half operating profit increased by 26% in Danish kroner and by 14% at constant exchange rates to 37.5 billion Danish kroner. Net profit was 27.5 billion Danish kroner, up 11%. Earnings per share was 12.08 kroner compared to 10.71 kroner.

Sales increased by 25% in Danish kroner and by 16% at constant exchange rates to 83.3 billion kroner in the first six months of 2022. Sales within Diabetes and Obesity care increased by 28% in Danish kroner to 72.7 billion kroner, or up 19% at CER. Obesity care sales grew by 99% in Danish Kroner, or 84% at CER.

For the 2022 outlook, sales growth is now expected to be 12-16% at CER and operating profit growth is now expected to be 11-15% at CER. Sales and operating profit growth reported in Danish kroner are now expected to be 9 and 14 percentage points higher than at CER, respectively.

Lars Fruergaard Jørgensen, CEO, said: "We are very pleased with the sales growth in the first half of 2022. The growth is driven by increasing demand for GLP-1 based diabetes treatments, especially Ozempic."

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