Novo Nordisk sees improved performance in first half of 2011
9 August 2011 00:00 in Pharmaceutical Company Financials
Novo Nordisk has seen an improved business performance in the first six months of 2011, according to the company's latest financial report.
The firm saw a 19 year-on-year percent rise in reported operating profits to achieve a total of 10.7 million Danish krone (1.3 million pounds), while sales increased by 11 percent on a local currency basis.
According to the report, improvements to the gross margin reflected a favourable product mix development, with sales of modern insulin products on the rise, while brands such as Victoza, NovoRapid and Levemir performed strongly.
As such, the company has now been able to raise its outlook for the full-year period and expects to achieve sales growth of between nine and 11 percent.
Lars Rebien Sorensen, president and chief executive officer of Novo Nordisk, said: "We are satisfied with the results of the first six months, with 11 percent underlying sales growth driven by Victoza and our modern insulins."
In June 2011, the company published trial data for its investigational ultra-long-acting insulin degludec, in which it demonstrated efficacy against type 1 and 2 diabetes.
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