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Search resuls for: "Danish drugmaker Novo Nordisk"


2 mentions found


☆ European shares rise ahead of Fed, Novo Nordisk boosts healthcare stocks
  + stars: | 2022-11-02 | by ( Shreyashi Sanyal | ) www.reuters.com   time to read: +3 min
The pan-European STOXX 600 index (.STOXX) rose 0.3% by 0858 GMT, hovering near seven-week highs. Novo Nordisk (NOVOb.CO) jumped 5.4% as it raised its full-year earnings outlook on strong sales of diabetes treatment Ozempic and reported a better-than-expected profit. European healthcare stocks (.SXDP) led sectoral gains with a 1.2% rise, while banks (.SX7P) advanced 0.3% ahead of what is expected to be the Fed's fourth straight 75-basis-point increase to interest rates. "There are high hopes that he will signal that there could be some softening in the U.S. central bank's aggressive approach to taming inflation." Danish hearing aid maker Demant (DEMANT.CO) tumbled 13.6% to the bottom of the STOXX 600, after it cut its full-year revenue and profit guidance for the second time in the year.
☆ Novo Nordisk sees faster profit growth on demand for diabetes drug Ozempic
  + stars: | 2022-11-02 | by ( Ludwig Burger | ) www.reuters.com   time to read: +2 min
Nov 2 (Reuters) - Danish drugmaker Novo Nordisk (NOVOb.CO) raised its full-year earnings outlook on strong sales of diabetes treatment Ozempic, also reporting a better-than-expected profit. Nine-month operating profit rose 28% to 57.7 billion Danish crowns ($7.66 billion), above the 56.8 billion forecast by analysts, according to Refinitiv data. It reiterated that it expects to make all doses of weight-loss drug Wegovy, a future growth driver, available in the United States towards the end of 2022, as it seeks to overcome production problems. "The growth is driven by increasing demand for GLP-1-based diabetes treatments, especially Ozempic," CEO Lars Fruergaard Jorgensen said. Novo faces keen competition from Eli Lilly, whose monthly injection Mounjaro won U.S. approval for type 2 diabetes in May and it is under fast-track review as a potential weight-loss drug.
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