Novo Nordisk On Target For 1996

Novo Nordisk of Denmark has announced pretax profits of 1.2 billion Danish kroner ($209 million) in the first six months of 1996, an increase of 19%. Net income for the period was ahead 16% to 873 million kroner, and operating income was 1.1 billion kroner, up 8%. Earnings per share were 23.27 kroner, up 16%. The firm says its expectations for the full year are unchanged.

Consolidated sales for the company in the first half of 1996 amounted to 7 billion kroner, a rise of 2%. The sales increase for the continuing businesses, adjusted for business divestments, was 8%. Total licence fees and other operating revenues rose 12% to 202 million kroner. The major part of this income is attributed to licence fees from the antidepressant Seroxat/Paxil (paroxetine), which rose around 40%.

The group said that turnover measured in local currencies was as expected. However, currency movements reduced the increase measured in Danish kroner.