Novo Nordisk Raises 2021 Guidance After Forecast-Beating 2Q Earnings
August 05 2021 - 2:29AM
Dow Jones News
By Dominic Chopping
Danish pharmaceutical company Novo Nordisk AS raised full-year
guidance after posting a forecast-beating rise in second-quarter
net profit and strong demand for its new obesity treatment.
Growth was driven by all geographical areas within its
international and North America operations and by all therapy
areas, in particular its portfolio of GLP-1 drugs for treating Type
2 diabetes, the company said late Wednesday.
"We reached a very important milestone with the approval of
Wegovy in the U.S., offering people living with obesity a new,
efficacious treatment option," Chief Executive Lars Fruergaard
Jorgensen said.
"The strong financial performance in the first half of 2021 and
the initial substantial demand for Wegovy in the U.S. have enabled
us to raise our outlook for the full year," he said.
Net profit rose to 12.12 billion Danish kroner ($1.93 billion)
from DKK10.63 billion, above the DKK11.35 billion forecast by
analysts in a FactSet poll.
Sales rose 10% to DKK33.04 billion, against analysts'
expectations of DKK32.31 billion.
The company said it now expects 2021 sales growth of 10%-13%
from 6%-10% previously, and operating profit growth of 9%-12% from
5%-9%, in local currencies.
Reported growth in sales is still seen around four percentage
points lower than in local currencies, while reported operating
profit growth is now seen five percentage points lower, from six
percentage points lower, it said.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
August 05, 2021 02:17 ET (06:17 GMT)
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