Novo Nordisk 4Q Sales DKK48.09B

By Dominic Chopping

Danish pharmaceutical company Novo Nordisk AS on Wednesday raised its dividend and launched a new 28 billion Danish kroner ($4.09 billion) share buyback after fourth-quarter earnings beat expectations amid strong demand for its diabetes care and obesity treatments.
Net profit in the fourth quarter rose to DKK13.59 billion from DKK10.89 billion, beating the DKK13.08 billion forecast by analysts in a FactSet poll.
    
Sales rose 25% to DKK48.09 billion, against analysts’ expectations of DKK47.26 billion.
Global sales were driven by diabetes and obesity care sales as its glucagon-like peptide-1 drug, or GLP-1, sales increased by 18% in local currencies and obesity care sales more than doubled, partially offset by a 12% decrease in insulin sales.
The company said it expects 2023 sales and operating profit growth of 13%-19% in local currencies.
Reported growth in sales is seen around four percentage points below local currencies, while reported operating profit growth is seen around five percentage points lower.
Novo Nordisk said it expects growth of GLP-1-based treatments for diabetes and obesity care, partially countered by declining sales in rare disease, intensifying competition, pricing pressure within diabetes care and periodic supply constraints.
The company proposed a final dividend of DKK8.15, bringing the total 2022 dividend to DKK12.40 versus DKK10.40 in 2021.
    
 
Write to Dominic Chopping at [email protected]