Novo Nordisk Boosts FY21 Outlook After Solid Q3 Sales

Novo Nordisk A/S NVO raised its forecast for sales and operating profit for FY21 after strong sales in Q3.
The company expects sales and operating growth of 12-15%, up from the previous expectations of 10-13% and 9-12%, respectively.
"The updated outlook is reflecting higher than expected Ozempic market share gains, GLP-1 market growth, and obesity care sales, mainly in the U.S," the company said in a statement.
Ozempic is the name of Novo's new once-weekly injectable treatment. It belongs to the GLP-1 class of drugs, which imitate an intestinal hormone that stimulates insulin production.
Sales rose 15% in Q3 while operating profit rose 19%.
Related Read: Novo Nordisk Shares Are Trading Higher As GLP-1 Treatments Boost Q2 Topline, Bottom-line.
Novo Nordisk will publish a complete set of quarterly results on November 3.
Price Action: NVO shares are up 2.03% at $109.83 during the market session on the last check Friday.

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