Novo Nordisk raises sales and operating profit outlook for 2020
October 08 2020 - 12:40PM
Novo Nordisk raises sales and operating profit outlook for 2020
Bagsværd, Denmark, 8 October 2020 – Novo
Nordisk today announced that the full-year sales and operating
profit outlook at constant exchange rates (CER) has been
raised.
In the third quarter of 2020, Novo Nordisk’s sales increased by
7% and operating profit increased by 7%, both at CER. This reflects
lower than anticipated negative impacts from COVID-19 as well as
underlying market demand. Sales growth was positively impacted by
inventory changes at wholesaler level in the US.
Profit and Loss (CER) |
First nine months 2020 |
Third quarter 2020 |
Net sales
growth |
7% |
7% |
Operating profit growth |
7% |
7% |
Following lower than anticipated negative COVID-19 impacts and
underlying market demand, full-year outlook is increased for sales
and operating profit, both at CER.
Outlook 2020 (CER) |
Expectations 8 October |
Expectations 6 August |
Sales
growth |
5-8% |
3-6% |
Operating profit growth |
5-8% |
2-5% |
Novo Nordisk’s full disclosure of the financial results for the
first nine months of 2020 will be published on 30 October 2020.
The outlook is based on a number of assumptions related to the
severity and duration of impacts from COVID-19. In addition, the
above expectations are based on assumptions which are further
described on pages 15 and 16 of the Financial Report for the period
1 January 2020 to 30 June 2020 (Company Announcement No 49 / 2020)
including that the global or regional macroeconomic and political
environment will not significantly change business conditions for
Novo Nordisk during the remainder of 2020.
The forward-looking statements on page 21 of the Financial
Report for the period 1 January 2020 to 30 June 2020 (Company
Announcement No 49 / 2020) also apply to this company
announcement.
Conference call to be held on 9 October 2020 at
08.30 CEST
On 9 October 2020 at 08.30 CEST, corresponding to 2.30 am EDT, a
conference call will be held. Investors will be able to listen in
via a link on novonordisk.com, which can be found under
‘Investors’. During a 30 minutes call, representatives from Novo
Nordisk will elaborate on the changed 2020 outlook and host a
Q&A session.
Novo Nordisk is a leading global healthcare company, founded in
1923 and headquartered in Denmark. Our purpose is to drive change
to defeat diabetes and other serious chronic diseases such as
obesity and rare blood and endocrine disorders. We do so by
pioneering scientific breakthroughs, expanding access to our
medicines and working to prevent and ultimately cure disease. Novo
Nordisk employs about 43,500 people in 80 countries and markets its
products in around 170 countries. Novo Nordisk's B shares are
listed on Nasdaq Copenhagen (Novo-B). Its ADRs are listed on the
New York Stock Exchange (NVO). For more information, visit
novonordisk.com, Facebook, Twitter, LinkedIn, YouTube.
Further information
Media: |
|
|
Mette Kruse
Danielsen |
+45 3079 3883 |
mkd@novonordisk.com |
Ken Inchausti
(US) |
+1 609 240
9429 |
kiau@novonordisk.com |
|
|
|
Investors: |
|
|
Daniel Muusmann
Bohsen |
+45 3075 2175 |
dabo@novonordisk.com |
Valdemar Borum
Svarrer |
+45 3079 0301 |
jvls@novonordisk.com |
Ann Søndermølle
Rendbæk |
+45 3075 2253 |
arnd@novonordisk.com |
Mark Joseph
Root |
+45 3079 4211 |
mjhr@novonordisk.com |
Kristoffer Due
Berg (US) |
+1 609 235
2989 |
krdb@novonordisk.com |
Company announcement No 58 / 2020
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