Novo Nordisk Posts 28% Rise In Q1 Profit, Lifts Forecast
Denmark's Novo Nordisk A/S (NYSE: NVO) posted a 28% rise in its first-quarter net profit and lifted its full-year forecast.
Novo Nordisk raised its 2013 sales growth forecast to 9% to 11% in local currencies, versus 8% to 11%.
Novo Nordisk's quarterly net profit surged 28% to DKK5.98 billion, from DKK4.66 billion, in the year-ago period.
Its sales climbed 13% to DKK19.98 billion from DKK17.75 billion. However, analysts were expecting a profit of DKK5.85 billion on sales of DKK19.76 billion.
Its operating profit climbed to DKK7.56 billion from DKK6.39 billion.
Novo Nordisk shares closed at $176.63 yesterday.
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