Novo Nordisk's 1st-qtr 2024 sales increased 22%
Danish diabetes giant Novo Nordisk (NOV: N) today reported financial results for the first quarter of 2024, noting that sales increased by 22% in Danish kroner and by 24% at constant exchange rates to 65.3 billion kroner ($9.35 billion), almost 2 billion-kroner higher than forecast by analysts surveyed by Bloomberg and financial data firm FactSet.
Operating profit increased by 27% in kroner and by 30% at constant exchange rates (CER) to 31.8 billion kroner. Notwithstanding the positive results, Novo Nordisk’s shares dipped 2.4% to 876.00 kroner by mid-morning.
Sales in North America Operations increased by 34% in kroner (35% at CER). Sales growth in the USA was positively impacted by gross-to-net sales adjustments related to prior years. Sales in International Operations increased by 8% in kroner (11% at CER).
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