Novo Nordisk Raises 2017 Growth Forecasts

Novo Nordisk, a Danish drugmaker best known for its diabetes and obesity medications, lifted its sales and operating profit growth forecasts for the full year after posting increases in both metrics for its second quarter. Net profit was 9.95 billion Danish kroner ($1.57 billion), or 4.01 Danish kroner per share, in the quarter, compared with 9.97 Danish kroner, or 3.92 Danish kroner per share, in the same period a year earlier, the company said on Wednesday. Net sales increased to 28.64 billion Danish kroner from 27.46 billion kroner a year earlier. In local currencies sales rose 3%, the company said.

Revenue growth was driven by Victoza, a new-generation insulin, and Saxenda, a weight-loss medication and the rate of growth was partly offset by lower sales of its Vagifem hormone replacement therapy due to the loss of exclusivity.

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