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Novo Nordisk H1 Profit Up

Danish pharmaceutical company Novo Nordisk A/S (NVO) Wednesday reported first-half net profit of 24.75 billion Danish krone or 10.71 krone per share, up from last year's 22.52 billion krone or 9.58 krone per share.

Novo Nordisk's operating profit dropped 1 percent to 29.76 billion krone from last year's 30.14 billion krone.

Net sales rose 5% to 66.85 billion krone from last year's 63.88 billion krone.

Sales in International Operations increased by 7% and North America Operations increased by 1%.

For the 2021 outlook, sales growth is now expected to be 10-13% at constant exchange rates and operating profit growth is now expected to be 9-12%, up from prior forecast of sales growth of 6-10% and operating profit of 5-9%.

CEO Lars Fruergaard Jørgensen said, "We are pleased with the sales growth in the first half of 2021. The growth is driven by all geographical areas within International Operations as well as North America Operations, and by all therapy areas, in particular by our portfolio of GLP-1 treatments. Within R&D, we reached a very important milestone with the approval of Wegovy in the US, offering people living with obesity a new, efficacious treatment option. The strong financial performance in the first half of 2021 and the initial substantial demand for Wegovy in the US have enabled us to raise our outlook for the full year."

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