Novo Nordisk Q1 Sales Up 25% At CER; Raises FY Outlook

(RTTNews) - Novo Nordisk (NVO), a Danish pharmaceutical firm, reported that its first quarter sales increased by 25% and operating profit increased by 28%, both at constant exchange rates or CER. Wholesaler inventory movements in the US positively impacted sales growth.

The company raised full-year sales and operating profit outlook at CER, reflecting Wegovy prescription trends in the first quarter and higher full-year expectations for sales of Wegovy in the US. The updated sales outlook also reflects higher full-year expectations for Ozempic sales, mainly in the US, following accelerated volume growth of the GLP-1 class.

The company now expects annual operating profit growth to be 28%-34% compared to the prior estimation of 13%-19%.

The company now projects annual sales growth to be 24%-30% compared to the previous outlook of 13%-19%.

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