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Novo Nordisk expects 13-19% sales growth in 2023, Health News, ET HealthWorld

Copenhagen: Danish diabetes and obesity drug developer Novo Nordisk It expects to generate sales growth in local currencies of between 13 per cent and 19 per cent in 2023, it said on Wednesday while reporting below-forecast profits for the fourth quarter.

“We are very pleased with the double-digit sales growth in 2022 driven by our innovative GLP-1-based diabetes and obesity treatments,” Chief Executive Lars Fruergaard Jorgensen said in a statement.

Novo also expects operating profit growth in 2023 to be in a range between 13 percent and 19 percent.

The company reported fourth quarter earnings before interest and taxes (EBIT) of 17.1 billion Danish crowns ($2.50 billion), below the 18.1 billion crowns expected by analysts in a Refinitiv poll.

The firm will propose a dividend of 8.15 crowns per share, making the total dividend for 2022 12.4 crowns per share. A new 12-month share repurchase program of up to 28 billion crowns has been initiated, the company said.

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