(Bloomberg) -- Novo Nordisk A/S raised its outlook for full-year sales and profit as the Danish drugmaker weathers disruption from Covid-19 and experiences better-than-expected demand for its diabetes medicines.
Novo expects sales and operating profit growth of as much as 8% for 2020, according to a statement Thursday. The company previously anticipated a sales increase of as much as 6% and a profit gain of as much as 5%.
The company is counting on new diabetes and obesity medicines to offset pricing pressure in the U.S. and increased competition. In the third quarter, Novo's sales and operating profit both increased by 7%, the company said.
©2020 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
