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BRIEF-Drugmaker Novo Nordisk Q1 profit beats forecast, nudges up 2017 outlook
May 3, 2017 / 5:42 AM / 3 months ago

BRIEF-Drugmaker Novo Nordisk Q1 profit beats forecast, nudges up 2017 outlook

2 Min Read

May 3 (Reuters) - Novo Nordisk Q1 report:

* Increased reported operating profit by 10 percent in the first three months of 2017

* Q1 sales 28.5 billion DKK versus 27.59 billion DKK seen in Reuters poll

* Q1 operating profit 13.5 billion DKK versus 12.00 billion dkk seen in Reuters poll

* Q1 net profit 10.2 billion DKK versus 9.03 billion DKK seen in reuters poll

* Says for 2017, sales growth is now expected to be in the range of 0 to 3 percent growth, measured in local currencies (previous forecast -1 to +4 percent)

* Says for 2017, operating profit growth is now expected to be in the range of a decline of 1 to a growth of 3 percent, measured in local currencies (previous forecast -2 to +3 percent)

* Says for 2017, reported sales growth is now expected to be 1-4 percent measured in Danish kroner, now reflecting a positive currency impact of 1 percentage point

* Says reported operating profit growth is now expected to be 0-4 percent measured in Danish kroner, now reflecting a positive currency impact of 1 percentage point

* CEO says "with performance in first three months, we are well on track towards our targets for 2017"

* CEO says "sales were driven by our new, innovative products within diabetes and obesity care, and we are seeing effects of our cost control initiatives, enabling us to invest in future growth opportunities"

* Says for 2017, now expects financial items (net) to amount to a loss of around DKK 1.8 billion

* Says capital expenditure is still expected to be around DKK 10.0 billion in 2017

* As of 1 july 2017, Lars Green will be appointed executive vice president and head of business services and compliance Further company coverage: (Reporting by Stine Jacobsen and Teis Jensen)

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