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Oil prices should be more comfortable: Novo Nordisk CFO

The threat of a slowdown in the world's emerging markets due to the price of oil are proving a concern for global healthcare company Novo Nordisk, the group's chief financial officer told CNBC.

Over 25 percent of Europe's CFOs questioned in CNBC's latest Global CFO Council survey said emerging markets pose the biggest risks to their firms.

An employee works on a high speed production line of insulin at a factory of Novo Nordisk.
Jean-Francois Monier I AFP I Getty Images
An employee works on a high speed production line of insulin at a factory of Novo Nordisk.

"Emerging markets and the growth in China remain to be a significant concern," Novo Nordisk CFO Jesper Brandgaard told CNBC Tuesday.

However, the global healthcare CFO, whose company leads the industry in diabetes care, told CNBC: "We're still seeing an underlining significant growth in the number of people getting diabetes in China and hence that's still on.

"In other markets, the ability to pay could be influenced by oil prices, because to a large degree it could often be the governments that are purchasing the goods that we're selling."

Brandgaard agreed with the majority of the CFOs surveyed who are not in the energy sector; stating that oil prices between $50 - $59 would in the an ideal range.

"There is not that clear link between the lower oil price and the more availability of funds with consumers and the ability to buy our products, I think it's more important for us the short-term effects of governments relying on revenues from oil to be able to purchase a good healthcare for their citizens, I think that's a more important trend," Brandgaard told CNBC.

"Hence, I'd say oil prices around $50 a barrel would be more comfortable for us than the current level."