Novo Nordisk released disappointing numbers for its Q2. Sales of DKK27.5bn were behind our as well as the consensus estimates. They represented a LC growth of 6% (vs 9% in Q1 16), with currency headwinds shaving off 5% points (vs 1% negative impact in Q1 15) from this. NB All sales growth numbers are in LC, unless specified otherwise. The underperformance came from a contract loss for Novolog in the US, lower price increases compared to historical years, wholesaler inventory management and lo
07 Aug 2016
Difficult US prompts another guidance downgrade, this time for 2016
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Difficult US prompts another guidance downgrade, this time for 2016
Novo Nordisk A/S Class B (NNO2:WBO) | 0 0 2.2% | Mkt Cap: 611,927m
- Published:
07 Aug 2016 -
Author:
Kamla Singh -
Pages:
3
Novo Nordisk released disappointing numbers for its Q2. Sales of DKK27.5bn were behind our as well as the consensus estimates. They represented a LC growth of 6% (vs 9% in Q1 16), with currency headwinds shaving off 5% points (vs 1% negative impact in Q1 15) from this. NB All sales growth numbers are in LC, unless specified otherwise. The underperformance came from a contract loss for Novolog in the US, lower price increases compared to historical years, wholesaler inventory management and lo