Novo Nordisk's operating profit increased by 15% in the first quarter of 2010

Novo NordiskReported operating profit increased by 15% to DKK 4,382 million. Adjusted for the impact from currencies, operating profit in local currencies increased by around 20%.

Gross margin improved by 1.0 percentage point in local currencies and by 0.4 percentage points in Danish kroner to 80.3% in the first quarter of 2010, reflecting continued productivity improvements, higher average selling prices in the US, favourable product mix development and a negative currency impact of around 0.6 percentage points.

Net profit increased by 23% to DKK 3,324 million. Earnings per share (diluted) increased by 27% to DKK 5.61.

Following the approval of Victoza® in the US on 25 January 2010, the product was launched in February 2010. The initial performance in the US, as measured by prescription level data, is encouraging. The European launch continues to progress as expected, with Victoza® now launched in 14 countries including France.

The largest clinical trial programme in the history of insulin therapy, the phase 3 programmes BEGIN(TM) and BOOST(TM) for the next generation of modern insulin analogues, Degludec and DegludecPlus, involving 10,000 patients in 43 countries, is progressing according to plan with more than three quarters of the patients enrolled.

For 2010, sales growth measured in local currencies is now expected to be in the range of 7-10%, and operating profit measured in local currencies is now expected to increase by more than 10%.

Lars Rebien Sørensen, president and CEO: "We are encouraged by the solid business performance in the first quarter of 2010. The increasing use of our modern insulins is the primary driver of growth. Furthermore, the roll-out of Victoza®, our new treatment for type 2 diabetes, is progressing well in both the US and Europe."

Headquartered in Denmark, Novo Nordisk is a global healthcare company with 87 years of innovation and leadership in diabetes care. The company also has leading positions within haemophilia care, growth hormone therapy and hormone replacement therapy. For more information, visit novonordisk.com.

Most Popular Now

Fasenra (benralizumab) receives US FDA approval fo…

AstraZeneca and its global biologics research and development arm, MedImmune, announced that the US Food and Drug Administration (FDA) has approved Fasenra (benralizumab)...

Alzheimer's disease might be a 'whole body' proble…

Alzheimer's disease, the leading cause of dementia, has long been assumed to originate in the brain. But research from the University of British Columbia and Chinese scie...

Cancer cells destroyed with dinosaur extinction me…

Cancer cells can be targeted and destroyed with the metal from the asteroid that caused the extinction of the dinosaurs, according to new research by an international col...

Novartis confirms leadership in multiple sclerosis…

Novartis today announced it will present 54 scientific abstracts from across its multiple sclerosis (MS) research portfolio at the 7th Joint European and Americas Committ...

Pfizer receives FDA approval for SUTENT® (sunitini…

Pfizer Inc. (NYSE:PFE) today announced that the U.S. Food and Drug Administration has approved a new indication expanding the use of SUTENT® (sunitinib malate) to include...

Amgen and Novartis announce expanded collaboration…

Amgen (NASDAQ:AMGN) and Novartis announced an expanded collaboration with the Banner Alzheimer's Institute (BAI) to initiate a new trial - the Alzheimer's Prevention Init...

Transplanted hematopoietic stem cells reverse dama…

Researchers at University of California San Diego School of Medicine report that a single infusion of wildtype hematopoietic stem and progenitor cells (HSPCs) into a mous...

Novartis announces the planned acquisition of Adva…

Novartis announced today, that it has entered a memorandum of understanding with Advanced Accelerator Applications (AAA) under which Novartis intends to commence a tender...

'Precision Medicine' may not always be so precise

Precision Medicine in oncology, where genetic testing is used to determine the best drugs to treat cancer patients, is not always so precise when applied to some of the w...

New tissue-engineered blood vessel replacements on…

Researchers at the University of Minnesota have created a new lab-grown blood vessel replacement that is composed completely of biological materials, but surprisingly doe...

New US study reveals key reasons why millions of p…

Few of the more than 90 million Americans(1) with obesity are seeking and receiving long-term obesity care, according to new data from the Awareness, Care and Treatment I...

China's out of control 'silent killer' affects one…

More than one-third of adults in China have high blood pressure - often dubbed the "silent killer" for its lack of symptoms - but only about one in 20 have the condition ...

Pharmaceutical Companies

[ A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Z ]