Novo Nordisk Sales Growth Projection

LONDON (Reuters) – Novo Nordisk (NYSE:NVO) expects its sales growth for next year to be in the high teens percentage-wise, according to Chief Financial Officer Karsten Munk Knudsen during an analyst call that followed the release of their third-quarter earnings on Wednesday.

Knudsen stated, "This is a forward-looking statement, mathematically based, and we'll come back with the more detailed guidance come early February 2025."

He noted that absolute sales growth last year was similar to this year's performance, resulting in a growth rate of 36% in 2023 and a mid-20s percentage this year.

To estimate next year's growth, Knudsen explained that applying this year’s sales base and adjusting for U.S. growth-related factors from previous years leads to a projection of high teens sales growth for next year.

Following these comments, Novo shares declined by three to four percentage points.