Novo Nordisk increases operating profits by 30%

Novo Nordisk’s latest financial results, for the first nine months of 2009, reveal an increase in its operating profits of 30 per cent, rising to 11,714 million Danish kroner (1.411 billion pounds).

Overall, its sales increased by 15 per cent in Danish kroner and by 11 per cent in local currencies.

Its gross margin improved by 2.5 percentage points to 79.5 per cent during the period, something the firm believes is due to continued productivity improvements and a positive currency impact of approximately one percentage point.

Sales of the company’s modern insulins and its NovoSeven and Norditropin products increased by 28 per cent, 15 per cent and 15 per cent respectively.

“The launch of Victoza in Europe is progressing well and we are seeing strong in-market penetration in the first-wave launch countries, Germany, the United Kingdom and Denmark,” explained Lars Reben Sorensen, chief executive and president of Novo Nordisk.

In August, the company announced the launch of its 30 mg/3 ml pre-filled, pre-loaded Norditropin [somatropin] injection pen.