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Novo Nordisk HY Profit Down; But Lifts FY Outlook

Novo Nordisk (NVO) reported that its net profit for first-half of 2019 declined to 20.04 billion Danish Kroner or 8.39 Kroner per share from 21.09 billion Kroner or 8.66 Kroner per share in the prior year.

But, sales increased by 9% in Danish kroner and by 5% at CER to 59.3 billion Kroner.

Sales in International Operations increased by 13% in Danish kroner or 12% at CER, driven by growth in all regions. Sales in North America Operations increased by 5% in Danish kroner.

For 2019, the company now expects sales growth to be 4%-6% at CER, and operating profit growth of 4%-6% at CER. Previously, it expected that sales growth to be 2%-5% at CER, and operating profit growth of 2%-6% at CER.

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