Novo Nordisk ADR


SKU: NVO Category:


This is our first report on global diabetes care giant, Novo Nordisk. The Danish company has performed decently in 2022 so far and its sales increased by 16% in the first half of this year, with North America accounting for most of that gain. However, it failed to meet revenue and earnings expectations of Wall Street in the last result. Spending on research and development has increased by 26%, which is mostly due to the efforts that the team is making in order to diversify and grow our pipeline. The acquisition of Dicerna Therapeutics accounts for around a 50% increase in R&D. The momentum behind their Tier 1 franchise in diabetes, Rybelsus and Ozempic, as well as market expansion in the obesity area, all contribute to an increase of their full-year projection. They also noticed an improvement in Saxenda’s International Operations and some Wegovy sales in the United States. They can therefore increase their outlook for revenue growth and operating profit growth due to the excellent momentum in their obesity brand and type 1 diabetes. We initiate coverage on the stock of Novo Nordisk with a ‘Hold’ rating.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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