Novo Nordisk reports strong growth during challenging 2014

Novo Nordisk has announced its financial results for the 2014 business year, during which it was able to achieve year-on-year growth.

Its sales increased by eight percent in local currency terms to 88.8 billion Danish kroner (9.01 billion pounds), while its operating profit levels improved by 13 percent to 34.5 billion Danish kroner, in spite of unusually challenging market conditions.

Demand for its modern and new-generation insulin products saw a strong increase, while sales of its Victoza therapy also rose sharply. Furthermore, the company was able to continue the global rollout of Tresiba and received US approval for its new obesity therapy Saxenda.

For 2015, sales growth is expected to be in the range of six to nine percent, with an 11 percent dividend increase set to be approved next month.

Lars Rebien Sorensen, president and chief executive officer of Novo Nordisk, said: “2015 will be an important year for us, with the first launches of Saxenda and Xultophy, as well as significant results from our late-stage development portfolio.”

Last month, the company signed up as a new member of the non-profit industry organisation TransCelerate BioPharma, which is dedicated to tackling research and development-related challenges in the pharmaceutical sector.