| |||||
| |||||
| |||||
| |||||
|
Thursday, August 5, 2021
Nevro downgraded by 5 sell siders
Novo Nordisk Raises 2021 Guidance After Forecast-Beating 2Q Earnings
Danish pharmaceutical company Novo Nordisk AS raised full-year guidance after posting a forecast-beating rise in second-quarter net profit and strong demand for its new obesity treatment.
Growth was driven by all geographical areas within its international and North America operations and by all therapy areas, in particular its portfolio of GLP-1 drugs for treating Type 2 diabetes, the company said late Wednesday.
"We reached a very important milestone with the approval of Wegovy in the U.S., offering people living with obesity a new, efficacious treatment option," Chief Executive Lars Fruergaard Jorgensen said.
"The strong financial performance in the first half of 2021 and the initial substantial demand for Wegovy in the U.S. have enabled us to raise our outlook for the full year," he said.
Net profit rose to 12.12 billion Danish kroner ($1.93 billion) from DKK10.63 billion, above the DKK11.35 billion forecast by analysts in a FactSet poll.
Sales rose 10% to DKK33.04 billion, against analysts' expectations of DKK32.31 billion.
The company said it now expects 2021 sales growth of 10%-13% from 6%-10% previously, and operating profit growth of 9%-12% from 5%-9%, in local currencies.
Reported growth in sales is still seen around four percentage points lower than in local currencies, while reported operating profit growth is now seen five percentage points lower, from six percentage points lower, it said.
Bayer 2Q Net Loss Narrowed Despite Litigation Provisions; Raises 2021 Outlook
Bayer AG said Thursday that its net loss for the second quarter narrowed on year despite provisions for Roundup weedkiller litigation, and raised its outlook for the full year.
The German conglomerate posted a net loss of 2.34 billion euros ($2.77 billion) for the quarter compared with a loss of EUR9.55 billion for the same quarter the previous year, missing a company consensus which saw it posting a net profit of EUR793 million.
Earnings before interest, taxes, depreciation and amortization before special items fell to EUR2.58 billion from EUR2.88 billion the year prior.
Sales grew to EUR10.85 billion from EUR10.05 billion for the previous-year period, which had been significantly affected by restrictions in response to the coronavirus pandemic, Bayer said.
A sales consensus provided by Vara Research saw sales coming in at EUR10.16 billion, while Ebitda before special items was seen at EUR2.79 billion.
Earnings were affected by the setting aside of further provisions to tackle continued litigation regarding glyphosate--the active ingredient in Roundup weedkiller and which is accused of causing cancer--coming in at EUR3.5 billion, Bayer said.
Sales increased in all three business areas of pharmaceuticals, agriculture and consumer health, Bayer said. Sales in the agriculture division rose, as expected by analysts, reaching EUR5.02 billion across regions.
The company's pharma business reported a recovery from the pandemic, with ophtalmology, women's healthcare and radiology driving the growth. Sales in the division reached EUR4.49 billion, according to Bayer. The company's consumer health division also grew on-year, driven by high demand for nutritional products, Bayer said.
Citing good business performance in the first half of the year, Bayer lifted its forecast for 2021.
Adjusting for currency effects, sales are expected to come in at EUR44 billion for the full year, versus a previous forecast which saw them approximately between EUR42 billion and EUR43 billion. Based on the closing rates as of June 30, the expected figure is EUR43 billion for the full year.
Ebitda before special items is expected to remain in the previously communicated range of EUR11.2 billion to EUR11.5 billion when adjusting for currency effects, while it is seen between EUR10.6 billion and EUR10.9 billion according to closing rates on June 30.
Core earnings per share are seen rising to a range of EUR6.40 to EUR6.60, adjusting for currency effects. Based on the closing rates on June 30, core EPS are seen between EUR6 and EUR6.2 for the full year.
Subscribe to:
Posts (Atom)