Novo Nordisk Q1 Profit Rises; Lifts FY Outlook - Quick Facts

Novo Nordisk (NVO) reported that its first-quarter net profit rose to 12.62 billion Danish Kroner or 5.45 Kroner per share from 11.90 billion Kroner or 5.05 Kroner per share in the previous year.

Operating profit decreased by 8% in Danish kroner and increased by 3% at constant exchange rates or CER.

Sales remained unchanged in Danish kroner and increased by 7% at CER to 33.8 billion Kroner.

For the 2021, the company now expects sales growth to be 6%-10% at CER, and operating profit growth of 5%-9% at CER. Previously, the company expected annual sales growth to be 5%-9% at CER and operating profit growth of 4% - 8% at CER.

The company said its board approved an expansion of the 2021 share repurchase program with 1.0 billion kroner to 18 billion kroner.

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