Denmark-based healthcare giant Novo Nordisk (NYSE: NVO, CPH: NOVO-B) reported its first quarter 2019 results today. Novo Nordisk’s profit dropped 3%, while sales increased 9% for the three months ended March 31, 2019. Operating profit grew 8% at constant exchange rates.
Shares of Novo Nordisk, which closed down 0.53% at $48.87 on NYSE, were down about 2% in the pre-market hours. Novo Nordisk stock was trading flat on Copenhagen Stock Exchange at 11:00 AM GMT.
All the regions in the International Operations registered sales growth in both reported and at constant exchange rates. Sales from North America Operations grew 4% on a reported basis, while it declined 4% at constant exchange rates.
Diabetes and Obesity segment sales advanced 10% on a reported basis and 5% at constant exchange rates. Sales from Biopharmaceuticals segment rose 3% on a reported basis and was flat at constant exchange rates.
“We delivered very solid performance in International Operations, driven by sales growth in all regions, meanwhile, sales in the USA were negatively impacted by inventory reductions. The global launch of Ozempic, our new once-weekly GLP-1, is well on track and continues to gain market share,” said CEO Lars Fruergaard Jørgensen.
For 2019, Novo Nordisk expects sales to grow between 2% and 5% and operating profit to increase between 2% and 6%, both at constant exchange rates.
The company stated that pricing pressure within diabetes is expected to conintue, especially in the US. This includes the funding of the Medicare Part D coverage gap, which has been changed based on new legislation with effect from 2019, and with an expected negative impact of approximately DKK 2 billion.
Most Popular
STZ Earnings Preview: Can Constellation Brands leverage growing beer sales?
Constellation Brands, Inc. (NYSE: STZ) has effectively navigated challenges like cautious consumer spending and declining demand for its wine and spirits brands by capitalizing on the sustained growth in the
What to look for when Lamb Weston (LW) reports its Q3 2025 earnings results
Shares of Lamb Weston Holdings, Inc. (NYSE: LW) stayed green on Friday. The stock has dropped 19% over the past three months. The French fry giant is slated to report
Walgreens Boots Alliance set to report Q2 earnings. Here’s what to expect
Walgreens Boots Alliance, Inc. (NASDAQ: WBA), a market leader in health and wellness services, is preparing to report second-quarter results, with market watchers forecasting a mixed outcome. As part of
