Novo Nordisk Proposes $3.33 Bln Share Buyback After 4Q Earnings Beat
BY DOMINIC CHOPPING | UPDATED 2月 02, 2022 06:00 午前 EST
Danish pharmaceutical company Novo Nordisk AS Wednesday proposed a new share-buyback program of up to 22 billion Danish kroner ($3.33 billion) after posting a forecast-beating rise in fourth-quarter net profit amid strong demand for its diabetes care and obesity treatments.
Net profit rose to DKK10.89 billion from DKK9.32 billion, and above the DKK10.79 billion forecast by analysts in a FactSet poll.
Sales rose 19% to DKK38.33 billion, against analysts’ expectations of DKK37.92 billion.
In December, a contract manufacturer filling syringes for its weight-loss injectable medicine Wegovy in the U.S., temporarily stopped deliveries and manufacturing following issues with quality standards. Consequently, fewer new weekly patient initiations are expected in the first half of 2022 compared with the fourth quarter of 2021, though it still expects to be able to meet demand in the U.S. in the second half of 2022, the company said.
The company said it expects 2022 sales growth of 6%-10% and operating-profit growth of 4%-8% in local currencies.
Reported growth in sales is seen around five percentage points higher than in local currencies, while reported operating-profit growth is seen around seven percentage points higher, the company said.
The company proposed a final dividend of DKK6.90 for 2021.
