LONDON — An underwhelming earnings report and ongoing questions about increasing competition in the booming obesity medicine field sent Novo Nordisk’s shares down early Wednesday, as the company sought to project its ability to reach more patients by increasing the supplies of its medicines.
Novo shares were down about 5% after the company lowered its operating profit guidance to 20% to 28%, down from the 22% to 30% it forecasted in its last earnings report.
The company reported that sales increased 25% at constant exchange rates in the first half of the year, but analysts had expected an increase of more than 26%. The company did raise its sales growth forecast Wednesday, to 22% to 28%, versus the previous 19% to 27%.
