Novo Nordisk raises full year view as Q3 beats fcasts
COPENHAGEN Oct 31 (Reuters) - Denmark's Novo Nordisk on Wednesday raised its full year outlook after reporting a 40 percent rise in third quarter core profit, beating forecasts, boosted by strong sales of diabetes drug Victoza and modern insulins.
Novo Nordisk, the world's biggest insulin producer, raised its 2012 sales growth forecast in local currencies to 10 to 12 percent from an earlier forecast of 9 to 12 percent, and operating profit growth of 16 to 18 percent from previously 15 percent.
It also said it saw 2013 operating profits and sales growth in high single digits.
Earnings before interest and tax (EBIT) rose to 7.86 billion Danish crowns ($1.37 billion) from 5.61 billion in the third quarter last year, beating an average 7.23 billion forecast in a Reuters poll of analysts.
The group said a new share buy back programme would be launched shortly.
($1 = 5.7480 Danish crowns) (Reporting by Copenhagen Newsroom)