Novo Nordisk Q4 Highlights: Clocks 25% Increase In Sales On Strong Diabetes and Obesity Treatment, Expect

Novo Nordisk A/S (NYSE:NVO) reported Q4 FY22 sales of DKK 48.09 billion, up 25% Y/Y (+18% on constant currency), driven by Diabetes care sales growth of 14% (CER) and Obesity care sales growth of 84% (CER).
Net profit increased from DKK 10.89 billion to DKK 13.59 billion.
Operating profit increased from DKK 13.64 billion to DKK 17.09 billion, but the margin remained unchanged at 35% from a year ago.
Novo Nordisk said it expected "periodic supply constraints" this year, partly driven by higher-than-expected demand for its diabetes drug, Ozempic, and manufacturing constraints.
Outlook: Novo Nordisk expects sales and operating profit growth in local currencies in 2023 to be between 13% and 19%.
"Hopefully, we'll get a whole year where Wegovy sales are allowed to flourish, so that's definitely something that pulls up the guidance for 2023," Laustsen told Reuters.
Sales of the company's new obesity drug, Wegovy, grew over 200% to DKK 2.5 billion despite some supply-related hiccups.
The company expects to invest around DKK 25 billion in 2023, mainly toward additional ingredient production and fill-finish capacity.
Novo Nordisk will propose a dividend of 8.15 crowns per share, making the total dividend for 2022 DKK 12.4 per share. The Board of Directors has decided to initiate a new 12-month share repurchase program of up to DKK 28 billion.
Price Action: NVO shares are down 1.04% at $137.33 during the premarket session on the last check Wednesday.

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