Novo Nordisk profits up 10% in first nine months of 2013

Leading diabetes company, Novo Nordisk, has increased its operating profit by 10% in the first nine months of 2013. Sales in the third quarter increased by 3% in Danish kroner to 20.5 billion compared to the same period in 2012. This growth was mainly driven by the three modern insulins and Victoza (liraglutide [rDNA origin] injection), but was partly offset by generic competition to Prandin (Repaglinide) in the US.

In this quarter, the once-daily new-generation insulin Tresiba (insulin degludec) was launched in Sweden and India. In October, the first patient was enrolled in DEVOTE, the cardiovascular outcomes clinical trial for Tresiba. Data for an interim analysis of the trial are expected to be available within two to three years.

“We are pleased with the sustained robust financial performance. Sales growth continues to be driven by our portfolio of modern insulins and Victoza®. Tresiba® performance is encouraging and with the initiation of DEVOTE we have passed a significant milestone in the process of making Tresiba® available for people with diabetes in the US.”

Lars Rebien Sørensen, president and CEO, Novo Nordisk.

Following the positive sales growth of its diabetes products, Novo Nordisk now holds a global value market share of 27% compared to 25% at the same time the year before.

The preliminary outlook for 2014 indicates high single-digit growth in sales and operating profit, both measured in local currencies.

 

 

Related news:

UPDATE 3-Novo offers shy outlook as diabetes drug sales miss (Reuters)

Novo Nordisk Sees Lower Growth in Sales, Earnings Next Year (Bloomberg)

Reference links:

Novo Nordisk

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