Novo Nordisk reports 10% rise in Q4 op profits

31 January 2007 10:10  [Source: ICIS news]

LONDON (ICIS news)--Danish diabetes care firm Novo Nordisk reported a 10% year-on-year rise in fourth quarter operating profits on Wednesday to Danish kroner (DKK) 2.11bn ($365.8m/€282.8m) on strong sales growth.

Sales in the fourth quarter were up 11% to DKK10.49bn, while net profits increased by 44% to DKK1.72bn.

For the full year, operating profits increased by 13% to DKK9.12bn on sales of DKK38.74bn, 15% higher than in 2005.

“Sales in our key products, not least in our modern insulins, went well in all major markets and we continue to see productivity improvements in product supply,” said chief executive Lars Rebien Sorensen.

“This allows us to invest more in both R&D (research and development) and sales and marketing, and we remain confident that also in 2007 we will be able to deliver a solid financial performance,” he added.

Novo Nordisk is expecting operating profits to increase 15% in 2007, measured in local currencies, and 10% when measured in Danish kroner.

 

($1 = DKK5.8/€1 = DKK7.5)

By: Mark Watts
+44 20 8652 3214

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