Novo Nordisk: profit rises 8%, in line with expectations

(CercleFinance.com) - Denmark's Novo Nordisk, the world's largest maker of insulin, reported a rise in annual earnings as more patients are using its GLP-1 therapies.


Full-year 2020 net profit rose 8% to 42.1 billion Danish kronor (about 5.6 billion euros), from 38.9 billion kronor the year before, backed by sales growth in both North America - a key market - and international businesses.

Total sales increased by 4% to 126.9 billion Danish kronor. Excluding the impact of currency effects, sales grew 7%, the company said, driven by its portfolio of diabetes and obesity treatments.

Novo's figures were broadly in line with analysts' expectations.

The drugmaker maintained its expectations of operating profit growth of about 4%-8% this year, with sales expected to rise by between 5% and 9% at constant exchange rates.

Its shares were up 4% after this report.

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