Novo Nordisk reports strong growth in first half of 2016

Novo Nordisk has reported a strong financial performance in the first half of 2016, with its sales total reaching 54.7 billion Danish kroner (6.26 billion pounds).

This represents a year-on-year increase of seven percent in local currency terms, with sales of Victoza up by 14 percent on the first six months of last year and Tresiba sales surging by 167 percent.

Key highlights of the period included the approval of IDegLira by the US Food and Drug Administration in May and the reporting of clinical trial data showing Victoza's effectiveness in reducing the risk of major cardiovascular events in type 2 diabetes patients.

For 2016 as a whole, the range for expected sales growth has been narrowed to between five and seven percent, while growth in adjusted operating profit is now expected to be in the five to eight percent range.

Lars Rebien Sorensen, president and chief executive officer of Novo Nordisk, said: "Overall, we are satisfied with the performance in the first six months of 2016, where Victoza and Tresiba continued to deliver strong sales growth and China improved faster than expected."