Denmark’s Novo Nordisk this morning said sales during the first half of the year were raised 14% to 15.5 billion Danish kroner, while operating profit also jumped 14% to 3.9 billion kroner. Net profit increased by 25% to 2.9 billion and earnings per share (diluted) increased 28% to 8.78 kroner.
The strong results were driven yet again by the firm’s insulin analogues franchise, which rose 67% and a 14% hike in NovoSeven sales. However, Novo was also pleased by a strong performance in North America, where revenues were boosted 28%.
The good news means the Danish company now expects operating profit growth of around 10% for the full year, up from previous guidance of 5%. Lars Rebien Sorensen, president & CEO, said: “We are encouraged by the continued market success of our strategic products, in particular the full range of insulin analogues and NovoSeven.
Moreover, the performance in our North American business has increased our confidence in the future growth potential for Novo Nordisk in the world's largest pharmaceutical market.”