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Analyst: Great financial statement from Novo

Novo Nordisk has once again surpassed market expectations with a great financial statement, says an analyst.

“The financial statement surpasses expectations for turnover and operating profit for Q4,” analyst Søren Løntoft told Medwatch shortly after the publication of the yearly financial statement from Denmark’s largest pharmaceutical company Novo Nordisk last week - a financial statement that exceeded expectations once again.

“There is a strong development in sales of modern insulins of 20 % and Victoza is still driving growth, although it delivers somewhat lower than consensus. But you should bear in mind that they were able to reverse provisions on certain discounts in Q4 2011, which had a positive effect, but also makes the basis for comparison more difficult, and that might account for consensus being slightly off,” He says about the only slight disappointment from the financial report.

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