Business

Sales Novo Nordisk 4Q DKK48.09B


By Dominic Chopping

Danish pharmaceutical company Novo Nordisk AS on Wednesday increased its dividend and launched a new stock buyback of 28 billion Danish kroner ($4.09 billion) after fourth-quarter earnings beat expectations amid a recession. The company’s demand for diabetes care and obesity treatment skyrocketed.

Fourth-quarter net profit rose to DKK 13.59 billion from DKK 10.89 billion, beating the DKK 13.08 billion expected by analysts in a FactSet poll.

Revenue rose 25% to DKK 48.09 billion, compared with analyst expectations of DKK 47.26 billion.

Global sales driven by glucagon-like peptide-1, or GLP-1, diabetes care drug sales, sales increased 18% in local currency and sales obesity care more than doubled, partially offset by a 12% drop in insulin. sell.

The company said it expects 2023 revenue and operating profit growth of 13%-19% in local currency.

Sales growth was reported about 4 percentage points lower in local currency, while operating profit growth was reported about 5 percentage points lower.

Novo Nordisk said it expected the growth of GLP-1-based treatments for diabetes and obesity care, countered in part by declining sales of rare diseases, increased competition, price pressures in diabetes care and limited routine supply.

The company proposed a final dividend of 8.15 DKK, bringing the total dividend in 2022 to 12.40 DKK from 10.40 DKK in 2021.

Write to Dominic Chopping at [email protected]

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