Novo Nordisk H1 Profit Rises; Affirms FY18 Outlook - Quick Facts

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(RTTNews.com) - Denmark-based healthcare company Novo Nordisk A/S ( NVO ) reported that its net profit for the first half of 2018 increased 5 percent to 21.09 billion Danish kroner from last year's 20.11 billion Danish kroner. Earnings per share increased 7 percent to 8.66 kroner from 8.07 kroner a year ago.

Net sales for the half year decreased 5 percent to 54.34 billion kroner from 57.09 billion kroner in the year-ago period. However, sales increased 4 percent in local currencies.

Sales of Victoza increased 2 percent from last year, while sales of Saxenda grew 35 percent. Sales of Tresiba were unchanged from last year.

Sales in North America operations declined 10 percent, while International Operations sales increased 1 percent.

Further, the company's board of directors has approved an interim dividend for 2018 of 3.00 kroner per share of 0.20 krone that will be paid in August 2018.

Looking ahead to fiscal 2018, Novo Nordisk still expects sales growth of 3 percent to 5 percent, and operating profit growth of 2 percent to 5 percent, both measured in local currencies.

Sales growth and operating profit growth reported in Danish kroner are now expected to be 5 and 7 percentage points lower than in local currencies, respectively.

For 2019, Novo Nordisk noted that formulary negotiations with pharmacy benefit managers and managed care organisations in the U.S. are progressing.

Subject to the final outcome of these negotiations, the company expects average prices after rebates to be lower compared with the levels in 2018, predominantly due to basal insulin pricing and changed Medicare Part D coverage gap legislation. The market access for Novo Nordisk's key products is expected to remain broadly unchanged compared to 2018.

Read the original article on RTTNews (http://www.rttnews.com/2924327/novo-nordisk-h1-profit-rises-affirms-fy18-outlook-quick-facts.aspx)

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This article appears in: World Markets , Stocks , Economy
Referenced Symbols: NVO

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