Novo Nordisk first-half 2011 sales and profit leap

4 August 2011

Danish insulin giant Novo Nordisk (NVO: N) posted first-half 2011 sales of 31.69 billion Danish kroner ($6.11 billion), a rise 9% (+11% in local currencies), driven by strong performances from the firm’s latest diabetes drug offering Victoza (liraglutide) and modern insulins NovoRapid and Levemir (insulin detemir).

Reported operating profit increased 13% to 10.68 billion kroner +17% lc), with net profit rising 19% to 8.21 billion kroner. Earnings per share (diluted) increased 23% to 14.27 kroner. Gross margin improved by 0.3 percentage points in local currencies, reflecting a favorable product mix development due to increased sales of modern insulin versus lower human insulin sales. Measured in Danish kroner, the gross margin declined slightly by 0.1 percentage point to 80.4%.

Victoza sales leap 253%

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