Novo Nordisk sees sales growth in first nine months of 2016

Novo Nordisk has announced its financial results for the first nine months of 2016, during which it generated a sales total of 82.2 billion Danish kroner (9.94 billion pounds).

This represents a year-on-year increase of six percent in local currency terms, or by four percent in Danish kroner. Particularly strong sales of key products such as Tresiba and Victoza were observed during the period.

Adjusted operating profits in local currencies, meanwhile, increased by seven percent, though in nominal terms they were down by one percent on last year. This was primarily attributed to challenging market conditions in the US.

Novo Nordisk is now aiming for an average operating profit growth of five percent for the full year, based on the trends it has seen during the year to date.

Lars Rebien Sorensen, president and chief executive officer of Novo Nordisk, said: "Going forward, we are confident that our strong product portfolio with innovative products like Tresiba, Victoza and semaglutide will enable us to deliver on our revised growth targets."

Mr Sorensen will be retiring from Novo Nordisk at the end of the year, to be succeeded by Lars Fruergaard Jorgensen. The company will also soon be undergoing a restructuring to maximise its growth potential.

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