After an impressive Q1, driven by COVID-19-induced stocking, growth fizzled out in Q2. GLP-1 offerings continue to do well, but headwinds in insulins and the lack of major non-diabetes growth drivers have again emerged as major roadblocks. Despite industry-leading return metrics, the group lacks major growth assets/catalysts and, hence, our cautious recommendation should be maintained.
07 Aug 2020
Flat Q2, after double-digit Q1 growth
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Flat Q2, after double-digit Q1 growth
Novo Nordisk A/S Class B (NNO2:WBO) | 0 0 2.2% | Mkt Cap: 611,927m
- Published:
07 Aug 2020 -
Author:
Surbhit Gupta -
Pages:
5
After an impressive Q1, driven by COVID-19-induced stocking, growth fizzled out in Q2. GLP-1 offerings continue to do well, but headwinds in insulins and the lack of major non-diabetes growth drivers have again emerged as major roadblocks. Despite industry-leading return metrics, the group lacks major growth assets/catalysts and, hence, our cautious recommendation should be maintained.