Danish pharmaceutical company Novo Nordisk A/S (NVO) reported Wednesday that its fiscal 2020 net profit increased 8 percent to 42.14 billion Danish kroner from last year's 38.95 billion kroner.
Earnings per share were 18.01 kroner, up 10 percent from 16.38 kroner a year ago.
Net sales grew 4 percent to 126.95 billion kroner from 122.02 billion kroner last year.
Further, the company said its its Board will propose a final dividend of 5.85 kroner. The total dividend would be 9.10 kroner.
In addition, the company said it intends to initiate a new 12-month share repurchase program of up to 17 billion kroner.
Looking ahead, for fiscal 2021, sales growth is expected to be 5 percent to 9 percent, and operating growth is expected to be 4 percent to 8 percent, both at constant exchange rates.
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.