Novo Nordisk raises 2007 forecast after strong Q2

03 August 2007 11:32  [Source: ICIS news]

LONDON (ICIS news)--Novo Nordisk raised its full-year forecast as it reported a 7% gain in second-quarter operating profits to Danish kroner (DKr) 2.81bn ($517m/€378), the Danish pharmaceutical company said on Friday.

 

The group’s sales rose 9% year-on-year to DKr10.56bn, while the gross margin rose to 77.7% compared with 76.8% in the year earlier period.

 

“The business continues to perform very well with robust sales growth and a sustained improvement in our gross margin,” said Novo Nordisk CEO Lars Rebien Sorensen.

 

Novo Nordisk, which specialises in diabetes drugs, raised its forecast for full year operating profit growth to 10% from 6-8% reflecting sustainability in the gross margin.

 

Measured in local currencies the growth forecast was raised to 20% from 15%, differing due to the depreciation of key invoice currencies against the Danish kroner.

 

($1 = DKr5.43 = €0.73)

 

 

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Author: Mark Watts
+44 20 8652 3214

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