Novo Nordisk’s first-half performance shows year-on-year improvements

Novo Nordisk has announced its financial results for the first six months of 2014, during which it achieved year-on-year growth and met a number of key targets.

The company's sales for the half-year came to 42 billion Danish kroner (4.47 billion pounds), up by seven percent in local currency terms. Operating profits surged by 12 percent and gross margin improved by 0.4 percentage points in the same time frame.

During the period, the firm saw improved sales for its modern insulin products and Victoza, with significant progress made in terms of the rollout and continued development of the new-generation daily insulin Tresiba.

Meanwhile, the recent positive Committee for Medicinal Products for Human Use recommendation for European approval of its new diabetes therapy Xultophy lays the foundation for the company to introduce another important new product in the coming months.

For 2014 as a whole, sales growth measured in local currencies is still expected to be within the seven to ten percent range.

Lars Rebien Sorensen, chief executive officer of Novo Nordisk, said: "We are satisfied with the financial results achieved in a challenging first half of 2014."