Novo Nordisk boosts full-year sales, profit guidance

Novo Nordisk lifted its full-year guidance after seeing an uptick in sales during the third quarter, boosted by inventory changes at wholesaler level in the US. The company said that in the third quarter, both sales and operating profit increased by 7% on a constant exchange rate (CER) basis.

According to Novo Nordisk, it now expects sales growth this year of between 5% and 8% on a CER basis, lifted from prior guidance of between 3% and 6%. Meanwhile, operating profit for 2020 is now forecast to grow between 5% and 8%, up from an earlier estimate of 2% to 5%.

The drugmaker indicated that the revised outlook "reflects lower than anticipated negative impacts from COVID-19 as well as underlying market demand." Novo Nordisk is scheduled to release its full financial results for the third quarter on October 30.

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