Novo Nordisk reported yet another better-than-expected quarter. Q2 sales of DKK28.6bn (+3% in LC; +4% in DKK) were close to our estimate of DKK28.4bn, but the operating profit margin of 46.7% came as a positive surprise, given management’s cautious guidance after a strong Q1. All revenue growth numbers in local currency unless specified otherwise. While the diabetes and obesity care increased by 8%, the bio-pharmaceuticals declined by a lower rate of 15% vs 25% in Q1. ~77% of the growth
16 Aug 2017
Another strong quarter, another outlook upgrade but challenges don’t abate
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Another strong quarter, another outlook upgrade but challenges don’t abate
Novo Nordisk A/S Class B (NNO2:WBO) | 0 0 2.2% | Mkt Cap: 611,927m
- Published:
16 Aug 2017 -
Author:
Kamla Singh -
Pages:
4
Novo Nordisk reported yet another better-than-expected quarter. Q2 sales of DKK28.6bn (+3% in LC; +4% in DKK) were close to our estimate of DKK28.4bn, but the operating profit margin of 46.7% came as a positive surprise, given management’s cautious guidance after a strong Q1. All revenue growth numbers in local currency unless specified otherwise. While the diabetes and obesity care increased by 8%, the bio-pharmaceuticals declined by a lower rate of 15% vs 25% in Q1. ~77% of the growth