Novo Nordisk still a buy for Citi as return on capital hits 88%

Novo Nordisk (NYSE:NVO) remains a buy for US bank Citigroup even though it is only the second European company in history to pass the half-a-trillion mark after LVMH temporarily hit the landmark last year. The Danish pharma accompanied its annual report with a management call that reiterated scaling up production of its blockbuster diabetes drugs Wegovy and Ozempic remains its number one priority. Capex will almost double to Dkr45bn in 2024 (15-17% of sales) with Novo expecting to post up to 25% revenue gro ...