Novo Nordisk reports 13% rise in sales

Novo Nordisk has published its financial results for the first half of 2008, with the company reporting a 13 per cent rise in sales in local currencies.

Sales of modern insulins from the firm rose by 30 per cent, while sales of NovoSeven rose by 14 per cent and Norditropin by 15 per cent.

Operating profit at the firm rose by 11 per cent to 5,675 million Danish kroner (602 million pounds), while underlying profit increased by approximately 25 per cent.

Net profit rose by 13 per cent on the same period last year to 4,651 million Danish kroner.

The company published a forecast of a 22-25 per cent rise in reported operating profit for the full year, also increasing its expectations for underlying operating profit to around 25 per cent.

Lars Rebien Sorensen, president and chief executive officer of Novo Nordisk, said: “We are very pleased with the performance in the first half of 2008 with robust sales growth for modern insulins, NovoSeven and Norditropin.”

He added the regulatory submission of liraglutide in Europe, the US and Japan marked a significant achievement for the company, with the firm excited about the prospect of bringing the drug to market in all three territories.

In June 2008, Novo Nordisk announced the publication of clinical data showing liraglutide reduced blood sugar in type 2 diabetes patients compared to glimepride.