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

Most popular vitamin and mineral supplements provi…

The most commonly consumed vitamin and mineral supplements provide no consistent health benefit or harm, suggests a new study led by researchers at St. Michael's Hospital...

AstraZeneca heads to 2018 ASCO Annual Meeting with…

AstraZeneca and MedImmune, its global biologics research and development arm, head to the 2018 American Society of Clinical Oncology (ASCO) Annual Meeting in Chicago, US...

Tiny particles could help fight brain cancer

Glioblastoma multiforme, a type of brain tumor, is one of the most difficult-to-treat cancers. Only a handful of drugs are approved to treat glioblastoma, and the median ...

New approach to immunotherapy leads to complete re…

A novel approach to immunotherapy developed by researchers at the National Cancer Institute (NCI) has led to the complete regression of breast cancer in a patient who was...

Amgen Foundation and Harvard team up to offer free…

The Amgen Foundation and Harvard University today announced plans to launch a free online science education platform uniquely designed to level the playing field for aspi...

The Pfizer Foundation announces $5 million in gran…

The Pfizer Foundation announced a new $5 million grant commitment to initiatives in low- and middle-income countries that provide family planning access and education for...

Study finds antioxidant-enriched vitamin reduces r…

Researchers at Children's Hospital Colorado (Children's Colorado) and the University of Colorado School of Medicine have found that taking a specially formulated antioxid...

New drugs could also be deployed against lung and …

A new anti-cancer drug may be effective against a wider range of cancers than previously thought. Using a mouse model and samples taken from cancer patients, a team from ...

What would help or hinder patient participation in…

As clinical trials gear up with the aim of attaining the first FDA-approved treatments for mitochondrial disease, a new study reports for the first time what patients and...

Pfizer to expand venture investing with $600 milli…

Pfizer Inc. (NYSE:PFE) today announced it plans to invest $600 million in biotechnology and other emerging growth companies through Pfizer Ventures, the company’s venture...

Update on Phase III clinical trials of lanabecesta…

AstraZeneca and Eli Lilly and Company (Lilly) are discontinuing the global Phase III clinical trials of lanabecestat, an oral beta secretase cleaving enzyme (BACE) inhibi...

Soy lecithin NSAID combo drug protects against can…

When scientists at The University of Texas Health Science Center at Houston (UTHealth) applied a chemical found in soybeans to a non-steroidal anti-inflammatory drug (NSA...