Novo Nordisk A/S 2Q 2015 -- Forecast

FRANKFURT--The following is a summary of analysts' forecasts for Novo Nordisk A/S (NVO) second-quarter results, based on a poll of six analysts conducted by Dow Jones Newswires (figures in million danish kroner, EPS, dividend and target price in danish kroner, according to IFRS). Earnings figures are scheduled to be released August 6.

=== 
               Sales:                   -NovoRapid/ 
2nd Quarter    -Total  -Victoza  -Levemir  NovoLog 
AVERAGE        27,161     4,109     4,782    5,258 
Prev. Year     21,629     3,059     3,618    4,251 
+/- in %          +26       +34       +32      +24 
 
MEDIAN         27,280     4,097     4,801    5,244 
Maximum        27,676     4,190     5,083    5,310 
Minimum        26,554     4,034     4,428    5,228 
Amount              6         5         5        5 
 
Baader-Helvea  27,151     4,190     5,083    5,242 
Credit Suisse  27,472        --        --       -- 
Deutsche Bank  27,676     4,097     4,801    5,310 
Jefferies      26,704     4,081     4,679    5,244 
Morgan Stanley 26,554     4,034     4,428    5,267 
Swedbank       27,408     4,145     4,920    5,228 
 
                Operating             Net      EPS 
2nd Quarter        profit     PBT  income  diluted 
AVERAGE            11,818  10,288   8,090     3.13 
Prev. Year          8,733   8,989   6,994     2.66 
+/- in %              +35     +14     +16      +18 
 
MEDIAN             11,699  10,046   7,947     3.08 
Maximum            12,625  11,189   8,740     3.41 
Minimum            11,048   9,526   7,525     2.91 
Amount                  6       5       5        5 
 
Baader-Helvea      11,418  10,046   7,947     3.08 
Credit Suisse      11,871      --      --       -- 
Deutsche Bank      12,625  11,189   8,740     3.41 
Jefferies          11,526   9,526   7,525     2.91 
Morgan Stanley     11,048   9,848   7,682     2.96 
Swedbank           12,422  10,830   8,556     3.29 
 
         Target price  Rating                DPS 2015 
AVERAGE        413.20  positive 3    AVERAGE     6.23 
                       neutral  2    Prev. Year  5.00 
                       negative 0    +/- in %     +25 
 
MEDIAN         425.00 
Maximum        450.00 
Minimum        345.00 
Amount              5                Amount         3 
 
Baader-Helvea  411.00  Buy                         -- 
Deutsche Bank  345.00  Hold                      6.75 
Jefferies      425.00  Hold                      6.34 
Morgan Stanley 435.00  Overweight                  -- 
Swedbank       450.00  Buy                       5.60 
=== 

Year-earlier figures are as reported by the company.

DJG/mus 

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