Novo Nordisk increased operating profit by 32% in 2012

Novo NordiskNovo Nordisk has announced that sales increased by 18% to 78.0 billion in Danish kroner and by 12% in local currencies. Reported operating profit increased by 32% to DKK 29.5 billion including a 1.7 percentage points improvement in the gross margin. Measured in local currencies, operating profit increased by 20%.

Net profit increased by 25% to DKK 21.4 billion. Earnings per share (diluted) increased by 30% to DKK 38.85.

Novo Nordisk has in December 2012 received, and submitted its response to, a Warning Letter from the US Food and Drug Administration (FDA) in relation to an inspection of an aseptic filling facility in Denmark. Novo Nordisk does not expect the letter to have an impact on products currently marketed in the US.

The regulatory process for the new-generation insulins, Tresiba® and Ryzodeg®, continues to progress in the major markets. In Japan and Europe both products have now been approved. In November 2012, an FDA Advisory Committee voted eight to four in favour of approving the products with a post-approval outcomes trial commitment.

In 2012, Novo Nordisk reached its four long-term financial targets. Consequently, two of the four targets have been increased. The core target of 15% annual operating profit growth on average is maintained.

For 2013, sales growth measured in local currencies is expected to be 8-11%, and operating profit growth measured in local currencies is expected to be around 10%.

Effective 31 January 2013, Novo Nordisk's Executive Management is expanded with two new members who will be responsible for Marketing & Medical Affairs and IT, Quality & Corporate Development respectively.

At the Annual General Meeting on 20 March 2013, the Board of Directors will propose a 29% increase in dividend to DKK 18 per share. The Board of Directors has furthermore decided to initiate a new 12 months share repurchase programme of up to DKK 14 billion.

Lars Rebien Sørensen, president and CEO: "2012 has been another year with strong results for Novo Nordisk driven by the sales growth of Victoza® and the two modern insulins NovoRapid® and Levemir®. We are pleased that Tresiba® and Ryzodeg® have been approved in key markets like Japan and the EU and look forward to launching Tresiba® in several markets in 2013."

Headquartered in Denmark, Novo Nordisk is a global healthcare company with 89 years of innovation and leadership in diabetes care. The company also has leading positions within haemophilia care, growth hormone therapy and hormone replacement therapy.

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 ]