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Novo Nordisk raises annual earnings outlook

Xinhua, October 30, 2015 Adjust font size:

Danish pharmaceutical company Novo Nordisk raised its annual earnings outlook after posting strong operating profit for the first nine months of 2015, the company announced Thursday.

Operating profit for the first nine months of 2015 jumped by 51 percent to 38.319 billion Danish kroner (5.635 billion U.S. dollars), or up 26 percent year-on-year as measured in local currencies, the company said in its third quarter financial statement.

Meanwhile, operating profit for the third quarter was 11.980 billion kroner, up 40 percent as compared to the same period last year.

Novo Nordisk now expects its full-year operating profit growth, measured in local currencies, to be at around 20 percent, against a previous forecast of around 19 percent.

Sales in the third quarter totaled 26.792 billion kroner, up 20 percent from the same period of last year, while overall sales for the first nine months was 79.1 billion kroner, up 23 percent year-on-year.

Net profit also increased by 33 percent to stand at 26.6 billion kroner. Adjusted for the 2.4 billion kroner non-recurring income related to the partial divestment of NNIT, net profit increased by 22 percent, it added.

Novo Nordisk said sales growth was primarily driven by diabetes drug Victoza, but the full-year outlook for sales growth is still expected to be 7 to 9 percent. (1 U.S. dollar = 6.76 Danish kroner ) Endit