Novo Nordisk reports strong growth for first half of 2017

Novo Nordisk has announced its financial results for the first six months of 2017, during which it generated a sales total of 57.1 billion Danish kroner (6.93 billion pounds).

This represented a year-on-year increase of four percent, or three percent in local currency terms, while reported operating profit levels ticked upwards by eight percent over the same timeframe.

Sales of Tresiba increased by 155 percent compared to the first half of 2016, while Victoza saw a 21 percent rise and Saxenda sales shot upwards by 98 percent.

The strong performance of the company's diabetes and obesity care products helped to offset a fall in biopharmaceutical product sales, due to generic competition for its hormone replacement therapy Vagifem and rebate adjustments for human growth hormone products.

Novo Nordisk's financial outlook for 2017 has now been updated, with sales growth expected to be in the range of one to three percent in local currency terms, compared to the previous range of zero to three percent.

Lars Fruergaard Jorgensen, president and chief executive officer of Novo Nordisk, said: "We are well on track to deliver on our targets for 2017 based on sales growth driven by our new, innovative products within diabetes and obesity care and a continued focus on cost control."

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