By Joe Hoppe


Novo Nordisk AS said Wednesday that its first-half sales and profit both rose on increasing demand for diabetes treatments, and it raised its 2022 outlook for sales and operating profit growth.

The Danish pharmaceutical company posted a net profit of 27.53 billion Danish kroner ($3.76 billion) in the first half, from DKK24.75 billion in the same period last year.

Sales rose to DKK83.30 billion, from DKK66.85 billion a year prior. Operating profit rose 26% on a reported basis, to DKK37.54 billion.

Full-year guidance was raised, with the company now expecting 2022 sales growth of 12%-16% from 10%-14% previously, and operating-profit growth of 11%-15% from 9%-13%, both measured in local currencies.

Reported growth in sales is now seen around nine percentage points higher than in local currencies from seven percentage points higher previously, while reported operating-profit growth is seen around 14 percentage points higher from around 11 percentage points higher previously.

"The growth is driven by increasing demand for GLP-1 based diabetes treatments, especially Ozempic. Our obesity treatments are also contributing to growth as more people living with obesity are being treated and the obesity care market continues to expand," Chief Executive and President Lars Fruergaard Jorgensen said.


Write to Joe Hoppe at joseph.hoppe@wsj.com


(END) Dow Jones Newswires

08-03-22 1057ET