Novo Nordisk Reports Lower-Than-Expected Q2 Operating Profit and Adjusts 2024 Forecast
Wednesday, 7 August 2024, 05:37
Overview of Novo Nordisk's Q2 Performance
In the latest quarterly report, Novo Nordisk has announced an operating profit of 25.9 billion Danish crowns, which fell below market expectations. Analysts had anticipated profits of 27.3 billion crowns.
Sales Forecast Adjustments
The company has raised its 2024 sales forecast to between 22% and 28% growth in local currencies, an increase from the previous estimate of 19% to 27%.
Market Response
- Post-announcement, Novo Nordisk shares saw a decrease of 3.2%.
- Increased competition from Eli Lilly is contributing to ongoing challenges.
Conclusion
While Novo Nordisk is optimistic about its sales growth, the company faces significant competition that may impact its profit outlook.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.