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Standard & Poor's Ratings Services Raises Ratings on Novo Nordisk A/S-DJ


Wednesday, 19 Jun 2013 12:59am EDT 

Dow Jones reported that Standard & Poor's (S&P) Ratings Services has raised its long- and short-term corporate credit ratings on Novo Nordisk A/S to 'AA-/A-1+' from 'A+/A-1'. The outlook is stable. The upgrade reflects S&P's view of Novo Nordisk's improved business risk profile and committed financial policy. The rating agency believes there is a good chance that Novo Nordisk will become one of the world's top 10 pharmaceutical companies within five years because of what it believes to be sustainable volume growth provided by the increasing number of global diabetes patients, and the group's promising new diabetes treatment innovations. S&P expects Novo Nordisk's revenues to continue to rise by a compound growth rate in the low teens and exceed the USD 20 billion mark in about five years. This growth will be supported by its robust portfolio of seven blockbuster drugs that the agency expects to generate an average of at least USD 1.5 billion in annual sales, and excluding major acquisitions. 

Company Quote

277.3
4.5 +1.65%
17 Sep 2014