Novo Nordisk 9-Month Profit Rises; Updates FY16 Outlook - Quick Facts

(RTTNews) - Novo Nordisk (NVO) reported Friday that its net profit for the first nine months of fiscal 2016 increased 10 percent to 29.23 billion Danish kroner from last year's 26.60 billion kroner. Earnings per share increased 12 percent to 11.50 kroner. Adjusted for the partial divestment of NNIT, net profit and earnings per share increased by 20 percent and 22 percent respectively.

Net sales increased 4 percent to 82.21 billion kroner from 79.05 billion kroner a year ago. Sales grew 6 percent in local currencies.

Sales of Tresiba increased 184 percent, Victoza grew 12 percent and sales of Saxenda were 1.0 billion kroner.

Sales in the USA increased 5 percent, while it was flat in International Operations. Sales in Region China increased 5 percent.

Looking ahead, for 2016, the company expects sales growth to be 5 percent-6 percent, and growth in adjusted operating profit is now expected to be 5 percent-7 percent, both measured in local currencies.

The company previously expected sales growth of 5 percent-7 percent and growth in adjusted operating profit of 5 percent-8 percent.