Novo Nordisk: 2019 profit up, shares rise

(CercleFinance.com) - Denmark's Novo Nordisk posted higher 2019 profit on Wednesday, reflecting an accelerated sales growth in international operations, with its shares up 2% after the results.


The world's largest diabetes care company said operating profit rose to 52.5 billion Danish kroner last year, from 47.2 billion in 2018. Meanwhile, its sales increased by 9% to 122 billion Danish kroner.

UBS analysts said in a note that the results "were good for the GLP-1 franchise, weak for the insulins and reflect the start of an investment cycle."

Regarding its 2020 outlook, sales growth is expected to be 3%-6% at constant exchange rates, and operating profit growth is expected to be 1%-5%, Novo said.

By 11.30 CET Novo's shares were trading 2% higher, outperforming the Copenhagen top-25 OMX index which was up 1.6%.

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