Novo Nordisk 1st-qtr 2010 sales growth driven by modern insulins and Victoza

Danish insulin giant Novo Nordisk reported first-quarter 2010 financial results ahead of consensus forecasts, helped by stocking of its new, once-daily diabetes drug Victoza (liraglutide) and non-recurring income, posting a net profit increase of 23% to 3.32 billion Danish kroner ($596.8 million) and earnings per share (diluted) up 27% to 5.61 kroner.

Sales for the three months rise 9% to 13.67 billion kroner, with turnover at Novo's diabetes division rising 11% to 10.15 billion kroner. The company said that turnover of its 'modern' insulin products, including Levemir (insulin detemir) and NovoRapid (insulin aspart) contributed 5.86 billion kroner, a rise of 17%. However, revenues from human insulins fell 8% to 2.77 billion kroner, and oral antidiabetics decreased 7% to 645 million kroner. The company posted total first-quarter revenue of 370 million kroner for Victoza.

The firm's biopharmaceutical business generated sales of 3.52 billion kroner, up 6% year-on-year, with sales of NovoSeven (recombinant Factor VIIa) rising 6% to 1.91 billion kroner, and the growth hormone Norditropin increasing 5% to 1.08 billion kroner.