novo_nordisk

Novo Nordisk posts strong nine-month results

pharmafile | October 29, 2015 | News story | Sales and Marketing Novo Nordisk, insulin 

Novo Nordisk has exceeded market expectations in its nine-month financial results, reporting a 51% increase in operating profit and 33% rise in net profit to DKK 2.4 billion (about £230million).

The Danish company also posted sales growth of 23% in Danish Kroner and 9% in local currencies to DKK 79.1 billion, driven by strong performance of its Victoza and Levemir insulins and an impressive 33% increase in North American sales, as well as 26% in China.

Gross margin improved by 1.8 percentage points in Danish kroner to 85.4% driven by a positive currency impact, the company said.

Despite the strong performance, Novo refrained from upgrading its full-year outlook, due to currency fluctuation issues.

“For 2015, sales growth measured in local currencies is still expected to be 7-9%, whereas operating profit growth measured in local currencies is raised by 1 percentage point and now expected to be around 20%,” the company said in a statement. 

Lars Rebien Sørensen, president and CEO, said he was “satisfied” with the results: “Sales growth was primarily driven by Victoza aided by the high growth of the GLP-1 market. In the third quarter, a significant milestone was achieved with the US FDA approval of Tresiba, and we look forward to launching Tresiba early 2016,” he said.  

Novo added that its preliminary outlook for 2016 in local currencies indicates mid to high single-digit growth in sales and mid to high single-digit growth in adjusted operating profit.

Joel Levy

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