Here's Why Novo Nordisk A/S Gained 12% in August

Here's Why Novo Nordisk A/S Gained 12% in August

Shares of Danish pharma giant Novo Nordisk A/S (NYSE: NVO) rose 11.7% in August, according to data from S&P Global Market Intelligence. Investors were relieved to see that the sales stall the company had warned about last summer never materialized, and pleased to see hints of growth ahead.

Novo Nordisk shocked the market in August 2016 with a depressing outlook for its pricey diabetes treatments. Last month, the stock surged when the company reported an 8% operating profit increase for the first half of the year. The company also nudged its total sales forecast for the year upward, from a range of 0% to 3% growth to between 1% and 3% growth, despite continued pressure from U.S. end payers.

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Source: Fool.com