Novo Nordisk Raises FY22 Earnings Outlook On Robust Ozempic Sales - Novo Nordisk (NYSE:NVO)

Novo Nordisk A/S NVO reported that its 9-month operating profit increased by 28% Y/Y and 14% at constant exchange rates to DKK 57.7 billion. Q3 operating profit was up 33% to DKK 20.18 billion.
Net profit for nine months increased to DKK 41.9 billion from DKK 36.9 billion in the prior year. Q3 net profit increased 19% to DKK 14.41 billion.
Net sales increased to DKK 128.86 billion from DKK 102.47 billion, and sales were up 28% Y/Y to DKK 45.57 billion in Q3.
Lars Fruergaard Jørgensen, the CEO, said: "The growth is driven by increasing demand for GLP-1-based diabetes treatments, especially Ozempic."
Diabetes and Obesity care sales increased by 29% to DKK 113.2 billion (18% at CER). Rare disease sales increased by 8%.
Obesity care sales grew by 91% (75% at CER). Novo Nordisk expects to make all Wegovy dose strengths available in the U.S. towards the end of 2022.
Earnings per share were DKK 18.42 compared to DKK 15.98 for nine months and DKK 6.34 for Q3.
Guidance: For FY22, Novo Nordisk expects sales growth to be 14-17% at CER (prior range of 12-16%) and operating profit growth to be 13-16% at CER, up from a previous target range of 11-15%.
Sales and operating profit growth reported in currency are now expected to be 10 and 15 percentage points higher than at CER, respectively.
Price Action: NVO shares are up 5.43% at $112.21 premarket on the last check Wednesday.