Novo Nordisk reveals sales increase

Novo Nordisk’s sales of modern insulins and NovoSeven products grew by 28 per cent and 14 per cent respectively, it has been revealed.

In figures announced today, the company also noted its operating profit increased 38 per cent in 2008, from 8,492 million Danish krone (1,053 million pounds) to 12,373 million Danish krone.

The organisation added its gross margin had improved by 1.2 percentage points in Danish krone, along with 1.7 percentage points in local currencies.

Lars Rebien Sorensen, president and chief executive officer of Novo Nordisk, said the firm was “satisfied” with “solid business results” recorded in 2008.

He stated the figures were driven by continued penetration of modern insulins in key markets.

“Despite the general economic downturn we still expect double-digit growth in both sales and operating profit for 2009 and we are increasing our long-term financial targets,” Mr Sorensen added.

Last month, Novo Nordisk and VLST Corporation entered a collaborative agreement, that will see the companies developing treatments for autoimmune and inflammatory diseases.