May 6, 2020 / 5:44 AM / 23 days ago

BRIEF-Novo Nordisk Q1 EBIT Above Expectations At DKK 16,302 Mln

May 6 (Reuters) - Novo Nordisk A/S:

* NOVO NORDISK’S SALES INCREASED BY 16% IN DANISH KRONER AND BY 14% AT CONSTANT EXCHANGE RATES (CER) TO DKK 33.9 BILLION IN THE FIRST THREE MONTHS OF 2020

* Q1 REVENUE DKK 33,875 MILLION VERSUS DKK 31,490 MILLION SEEN IN REFINITIV POLL

* FOR 2020 OUTLOOK, SALES GROWTH IS STILL EXPECTED TO BE 3-6% AT CER, AND OPERATING PROFIT GROWTH IS STILL EXPECTED TO BE 1-5% AT CER

* Q1 EBIT DKK 16,302 MILLION VERSUS DKK 14,183 MILLION SEEN IN REFINITIV POLL

* MAINTAINED OUTLOOK REFLECTS NEGATIVE IMPACTS FROM COVID-19, LARGELY OFFSET BY UNDERLYING PERFORMANCE

* PIPELINE PROGRESSED WITH APPROVAL OF RYBELSUS(®) IN EU AND SUCCESSFUL COMPLETION OF PHASE 2 TRIAL WITH SEMAGLUTIDE IN NASH, BOTH IN APRIL

* COVID-19-RELATED STOCKING IMPACTED OUR RESULTS

* WE ARE SATISFIED WITH UNDERLYING COMMERCIAL PERFORMANCE AS WELL AS PROGRESSION OF OUR PIPELINE WITH APPROVAL OF RYBELSUS(®)IN EU AND ENCOURAGING PHASE 2 DATA FOR SEMAGLUTIDE IN NASH

* THE CURRENT COVID-19 PANDEMIC CAUSES UNCERTAINTY TO THE OUTLOOK REGARDING PATIENT FLOW AND SOCIETAL IMPACTS SUCH AS THE UNEMPLOYMENT RATE IN THE US WHICH IS IMPACTING HEALTHCARE INSURANCE COVERAGE

* THE EFFECTIVE TAX RATE FOR 2020 IS STILL EXPECTED TO BE IN THE RANGE OF 20-22% Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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