Novo Nordisk, now Europe's second-largest company by market cap, lifts outlook after 46% profit rise

Novo Nordisk, the Danish drugmaker that’s now the second-largest company in Europe by market capitalization, on Thursday reported a 46% rise in profit and lifted its outlook for the year.

“The... Novo Nordisk, the Danish drugmaker that’s now the second-largest company in Europe by market capitalization, on Thursday reported a 46% rise in profit and lifted its outlook for the year. “The growth is driven by increasing demand for our GLP-1-based diabetes and obesity treatments, and we are serving more patients than ever before,” said CEO Lars Fruergaard Jørgensen.

The company boosted its guidance from May, now expecting sales growth at constant currencies of between 27% and 33% for the year, an increase of 3 percentage points, and a similar boost to its operating profit growth target to a range of 31% to 37%.

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