Novo Nordisk sales up 16%

Danish firm Novo Nordisk has released results for 2005 with net profit up by 17 per cent to 5,864 million Danish kroner (?538million).

Sales rose 16 per cent to 3,376 million Danish kroner (?310 million) fuelled by good performances in insulin sales.

Novo Nordisk president and chief executive Lars Rebien Sorensen said: “We are pleased with the results achieved in 2005.

“Novo Nordisk insulin now constitutes more than half of the insulin sold globally, and we expect the strong demand for our strategic products to continue in 2006 despite increased competition.

“We are confident that we also in 2006 will be able to deliver solid financial performance while at the same time increasing our investments in both R&D and in sales and marketing.”

The company’s prediction for 2006 is that operating profit will increase by around ten per cent.

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