Danish pharmaceutical company Novo Nordisk AS NOVO.B, -2.21% NVO, -2.21% on Wednesday raised full-year guidance and reported a third-quarter net profit that beat expectations amid strong demand for its diabetes care and obesity treatments.
Net profit rose to 14.41 billion Danish kroner from DKK12.12 billion in the same period last year, beating the DKK13.95 billion forecast by analysts in a FactSet poll.Global sales were driven by diabetes and obesity care sales as GLP-1 sales increased by 44% in local currencies, obesity care sales increased by 62% and rare disease sales increased by 4%, partially offset by a 15% decrease in insulin sales, the company said.
Full-year guidance was raised, with the company now expecting 2022 sales growth of 14%-17% from 12%-16% previously, and operating-profit growth of 13%-16% from 11%-15%, both measured in local currencies. Reported growth in sales is now seen around 10 percentage points higher than in local currencies from 9 percentage points higher previously, while reported operating-profit growth is seen around 15 percentage points higher from around 14 percentage points higher previously.
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