==Novo Nordisk (NVO) reported earnings on Wed 6 Nov 24 (b/o)

 

Novo Nordisk reports nine-month results; narrows outlook

• Reports nine-month EPS of DKK16.29 vs DKK13.71 LY; revs of DKK204.7 bln vs DKK166.4 bln LY
  • Sales in North America Operations increased by 31% in Danish kroner (31% at CER). Sales growth in the US was positively impacted by gross-to-net sales adjustments related to prior years. Sales in International Operations increased by 13% in Danish kroner (15% at CER).
  • Sales within Diabetes and Obesity care increased by 25% in Danish kroner to DKK 191.8 billion (26% at CER), mainly driven by GLP-1 diabetes sales growth of 25% in Danish kroner (26% at CER) and Obesity care growing by 44% in Danish kroner to DKK 43.7 billion (44% at CER). Rare disease sales increased by 3% in both Danish kroner and at CER
• Outlook
  • For the 2024 outlook, sales growth is now expected to be 23-27% at CER, and operating profit growth is now expected to be 21-27% at CER. Growth reported in Danish kroner is now expected to be 1 percentage point lower than at CER growth for sales and 2 percentage points lower for operating profit.

Novo Nordisk (NVO) stock skidded Wednesday on mixed third-quarter results as sales of weight-loss drug Wegovy beat expectations, but Ozempic came in light.

Both drugs use the same active ingredient, semaglutide. Semaglutide mimics a hormone called GLP-1 to improve feelings of satiety and markers of blood sugar. During the September quarter, weight-loss drug Wegovy notched $2.53 billion in sales, according to FactSet. Wegovy sales rocketed more than 84% year over year, and beat forecasts for $2.31 billion.

But Ozempic, the diabetes injection, brought in just $4.36 billion, missing expectations for nearly $4.5 billion. Ozempic sales jumped 28%.

Earnings this week : Nov 4 - 8, 24 (wk 45)

Monday (November 4)

• Morning: AMG BCRX BEN BNTX CC CEG CHH CNA DOCN ENTG FIS FOXA FRPT FTDR IART KNF KRYS MAR NSSC NYT OMI PEG RVTY TGI TPG TRS YUMC ZTS
• Afternoon: ADUS AHH AIG ALAB ANDE AOSL ATUS AVB AZPN BCC BFAM BWIN BWXT CBT CDNA CE CLF CRBG CRUS CWK DEI EGHT ELME EQH ES EVER FANG FN FWRD GKOS GT GXO HHH HIMS HMN HOLX HPK HUN ICHR ILMN INSP INTA JELD LSCC METC MQ MTG NVTS NXPI O OGS OTTR PARR PLMR PLTR PRAA PRIM QNST RHP RRX SANM SLAB SLF ST SUPN TBI TDC VMEO VNO VNOM VOYA VRTX VVX WOW WTRG WYNN

Tuesday (November 5)

• Morning: ADM AGCO AHCO APLS APO ARCH BEAM BLD BLDR BOW BR BRKR CEIX CMI DD DEA EMR EXK EXPD FTS GFS HLMN HSIC INGR IT LGIH LPX MLCO MPC MPLX NEO NMRK NOVT NPO OGE PAYO PINC PTLO QSR SHC STVN TKR TRI ULS WLK XMTR YUM
• Afternoon: AFG AIZ BBAI BGS CPNG CRC DVN EXAS GMED GO GPOR HLIO IFF IMOS IOSP IRBT JKHY KGC LUMN MASI MCHP MRC MRCY NE NHI NOG OUT PAAS PBA QLYS RARE RVLV RYTM SMCI SNDX TMCI TSLX TX USPH VTEX WTTR

Wednesday (November 6)

• Morning: AEP ASC ASTE ATHM AVA AVDX BCO BIP CELH CLBT CLVT CNDT COR CRL CTRI CVS DIN DK ENOV EYE FOLD GIB HLNE HWM IONS IRM JCI JLL KMT KRNT LINE LNTH LXP MAC MCFT MFA MKTX  NVO  OC ODP PERI PFGC PNW PRGO SFL SGHC SMG SMRT SNDR SRE STWD SUN SWX TEVA TRMB VERX VSH
• Afternoon: ACAD ACLS ADTN AEE ALB AMC ANSS APA APP APPS ARM ASH ASPN ATO AWR BALY BBDC BBSI BKH BMBL BROS BTG BYND CCRN CDE CDLX CDRE CERT CHRD CLNE COHR COOK COTY CRSR CSGS CTVA CWAN CXT CXW CYTK DLX DUOL DV ECPG ELF ENLC ENS EOLS ET EVTC FBIN FICO FNF FNV FRSH FSK FSLY GFL GH GILD GNK HCAT HL HST HUBS IIPR IONQ IPAR JAZZ JOBY JXN KAR KD KGS KNTK KVYO KW LAW LB LOPE LYFT LZ MCK MELI MEOH MKSI MODV MRO MTCH MWA NFG NMIH NTR ODD ORA OSUR PCRX PLYA POWI PR PRI PTC PYCR QCOM QGEN QTWO RAMP RCUS RDN RGLD RGNX RLAY RLJ RNR RPD RVMD RYN SBGI SEDG SITM SKT SRPT STE STR SUI TKO TNDM TPC TRIP TS TTWO UPWK VAC VCYT VECO VSAT VSTO VTLE VZIO WAY WES WK WMB WOLF XHR ZG ZIP

Thursday (November 7) 

• Morning: ACIW ACMR AGI APD APPN AQN BDX BIGC BRY BSY CARS CCJ CCOI CEVA CG COLD COMM DCO DDOG DNOW DNUT DT DUK EDR ELAN EPAM EPC EVRG FWRG GDRX GEO GERN GOLD GOLF GOOS HAE HAIN HAL HBI HGV HIMX HOUS HSY IBP INSW IRWD KLG KRP KVUE LCID LCII LFST LGND LSPD MDU MFC ML MPW MRNA MRX MT MTSI MUR NABL NTLA NVMI NXST OLPX OSCR PBH PCG PENN PLNT PLTK PRKS PRVA PZZA RL ROK RXO SCSC SEE SHOO SPTN STGW STRA TAP TBLA TDG TGLS TGNA THR THRY TPB TPR TPX UAA USFD VCEL VITL VTRS VYX WBD WD WRBY WWW XPEL XRAY YETI YOU
• Afternoon: AAOI AAON ABNB ACVA ADMA ADPT AFRM AGL AKAM AL ALLO ALRM ALTM AMN AMPL AMRC ANET ARLO ARRY ASLE ASTH ATEN AVPT AXON BE BHF BILL BL BLNK CABO CARG CIVI CLFD COLL CPAY CPK CPRI CYRX DBX DH DIOD DKNG DOCS DRH DXC ENV EOG ESTA EVH EXPE EXPI FIGS FIVN FLYW FNKO FROG FTNT G GDOT GETY GPRO HRB INDI INGN JAMF KTOS KURA LASR LGF.A LITE LPRO MGNI MLNK MNST MP MRVI MSI MTD MTUS MYGN NET NUS NVEE NWSA OEC OLO OPEN OPK OS OVV PACB PBI PEB PINS PODD PRA PTCT QDEL RDFN REZI RIVN RNG RRR RUN RXST SG SOLV SPT SQ STEP SVV SYNA TEM TOST TTD U UPST VCTR WBTN WEST WPM WTI XPOF YELP ZD

Friday (November 8)

• Morning: ADNT AMCX ANIP ATMU ATSG AXL BAX BLMN CLMT CNH ERJ FLGT FLO FLR FTRE GTN HLLY IMXI KOP LAMR NRG PAA PAL PAR PWP RBA SONY WMS
• Afternoon: HE PARAA

Dicerna Pharmaceuticals (DRNA) to be acquired by Novo Nordisk (NVO) for $38.25/share

•  Agreed to be acquired by Novo Nordisk (NVO), a research collaboration partner of co in the space of RNAi therapies, for $38.25/share in cash, representing a total equity value of $3.3 bln and a premium of approx. +80% to yesterday's closing price. The transaction is expected to close in Q4. Leaps to three-month highs.

 

Dicerna Pharmaceuticals: Novo Nordisk (NVO) will acquire Dicerna for $38.25 per share in cash, which represents a total equity value of $3.3 billion

• Under the terms of the agreement, Novo Nordisk, through a subsidiary, will initiate a tender offer to acquire all outstanding shares of Dicerna common stock at a price of $38.25 per share in cash. The closing of the tender offer will be subject to certain conditions, including the tender of shares representing at least a majority of the total number of Dicerna's outstanding shares, the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act and other customary conditions. Upon the successful completion of the tender offer, Novo Nordisk's acquisition subsidiary will be merged into Dicerna, and any remaining shares of common stock of Dicerna will be cancelled and converted into the right to receive the same $38.25 per share price payable in the tender offer. The transaction is expected to close in the fourth quarter of 2021.
• The transaction was unanimously approved by the Dicerna Board of Directors and the Board of Directors of Novo Nordisk.

=Novo Nordisk (NVO) reports new data for Victoza

Novo Nordisk reports new data for Victoza indicating reduction of cardiovascular risk in people with type 2 diabetes:

• Co announced that findings from a post-hoc analysis of the LEADER cardiovascular outcomes trial showed that treatment with Victoza resulted in similar reductions in the risk of major cardiovascular events in people with type 2 diabetes at high CV risk, regardless of whether or not they experienced an episode of severe hypoglycaemia during the trial
  • For the overall LEADER population, regardless of treatment group, people who experienced a severe hypoglycaemic episode were at a significantly greater risk of major cardiovascular adverse events (CV death, non-fatal heart attack or non-fatal stroke), CV-death or non-CV death.
  • The risk of a CV event was far greater within 60 days of a severe hypoglycaemic episode occuring.
  • At the same time, people treated with Victoza experienced significantly fewer episodes of severe hypoglycaemia when compared to placebo, both in addition to standard of care.

=Novo Nordisk (NVO) reported earnings on Thur 2 Feb 2017 (b/o)

Novo Nordisk misses by DKK0.05; beats on revs; lowers FY17 outlook due to headwinds in US :

Reports FY16 EPS of DKK14.96 vs DKK15.01 Capital IQ consensus; revs increased 4% YoY to DKK111.8 bln vs DKK111.7 bln consensus

• Sales of Tresiba increased by 221% to DKK 4.1 billion (219% in Danish kroner)
• Sales of Victoza increased by 12% to DKK 20.0 billion (11% in Danish kroner)
• Sales of Saxenda increased by 245% to DKK 1.6 billion (243% in Danish kroner)
• Sales in the USA increased by 4% (4% in Danish kroner)
• Sales in International Operations increased by 14% (2% in Danish kroner)
• Sales in Region China increased by 12% (6% in Danishkroner)

Outlook

• For2017, reported sales growth is expected to be 1-6% measured in Danish kroner,positively impacted by currencies of 2 percentage points. Reported operatingprofit growth is expected to be 0-5% measured in Danish kroner, positivelyimpacted by currencies of 2 percentage points.
• Commentary from co: "...While we met our financial guidance for the year, strong marketheadwinds in the USA meant that we had to revise our long-term financialtargets."

Dividend/Buyback:

• Atthe Annual General Meeting on 23 March 2017, the Board of Directors willpropose a final dividend of DKK 4.60 for 2016 per share of DKK 0.20.
• Theexpected total dividend for 2016 of DKK 7.60 per share, of which DKK 3.00 pershare was paid as interim dividend in August 2016, corresponds to an increaseof 19% compared to 2015.
• The Board of Directors furthermore intends to initiatea new 12-months share repurchase programme of up to DKK 16 billion.

Novo Nordisk (NVO) reported earnings on Fri 28 Oct 16 (b/o)

** charts after earnings **

 

Novo Nordisk, a Danish pharmaceutical company known for its diabetes medication was down 14% Friday morning after slashing its long-term profit growth target in half.

"The competitive environment in the U.S. within both diabetes care and biopharmaceuticals has become more challenging, negatively impacting the price of our products, especially for insulin and human growth hormone products," Novo's chief financial officer Jesper Brandgaard said in a call with investors Friday. 

In the last decade, Novo's list prices for its insulin have gone up roughly 300%. The company also introduced a new insulin in 2015 called Tresiba.

But the pharmacy benefits managers — who manage relationships between drugmakers, insurers and pharmacies — have been taking an increasing cut of drug prices.  Drugmakers pay the PBMs a "rebate" to offset price increases, and for insulin, this has been rising, according to ZS Associates,  a sales and marketing firm that works in the healthcare industry.

ZS data shows that Novo's rebate rates were 47% in 2014, and 55% in 2015. Across the industry, ZS data shows that rebates paid out to PBMs and insurers have gone up from about $40 billion four years ago to $100-$130 billion by 2016. So while list prices continue to go up, net prices to the drugmakers have stayed mostly flat. 

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