Novo Nordisk (NYSE:NVO) fourth-quarter results on February 5, 2025, will be a big announcement for Europe’s largest company given the febrile excitement surrounding its blockbuster appetite-reducing / weight-loss treatments Wegovy and Ozempic.
City big hitters are already getting their ducks in a row ahead of the numbers and US bank JP Morgan sees sales in the fourth quarter at DKr82.6bn (£9 billion), or 2% ahead of consensus due to its higher forecasts for Wegovy sales.
JP Morgan’s forecast for operating profit is slightly behind the pack at DKr34,167 million due to the impact of the Catalent acquisition.
On guidance for 2025, the US bank expects Novo to guide for “Sales growth of 17-23% at CER (constant exchange rates)” and “Operating Profit growth of 18-24% at CER”, which again reflects the Catalent transaction.
“Overall, we expect a solid quarter for Novo and solid 2025 guidance.”
Potential 1-2% cuts to 2025 consensus should not have any impact on the shares given they are entirely related to the closing of the Catalent deal, which should have already been digested by the market, the bank added.
Shares are Drk671.40 currently.