Novo Nordisk books 24% increase in Q1 profits

02 May 2007 10:52  [Source: ICIS news]

LONDON (ICIS news)--Novo Nordisk increased first quarter operating profit by 24% to Danish kroner (DKr) 2.33bn ($424m/€312m) driven by strong sales growth, the Danish pharmaceuticals company said on Wednesday.

 

The group’s sales rose 10% year-on-year to DKr9.82bn while net profit was up by 41% to DKr1.71bn.

 

Due to the depreciation of key invoicing currencies against the Danish kroner, operating profit was expected to grow 6-8% in 2007. In local currencies the company expected a 15% rise.

 

“We are pleased with the solid sales growth that we have seen in the first quarter of 2007 despite the depreciation of key invoicing currencies,” said chief executive Lars Sorensen.

 

“The US modern insulin market is a significant growth driver and we expect the US growth to continue supported by the expanded US sales force which will be in the field by the end of the second quarter,” he added.

 

($1 = €0.73 = DKr5.49)

By: Mark Watts
+44 20 8652 3214

< previous article(ICIS Podcast: Chemical News Central 2 November 2009)

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly