Novo Nordisk nine-month sales up 13%; takes larger diabetes market share

31 October 2013

Danish insulin giant Novo Nordisk (NOV: N) reported sales of 61.9 billion ($11.3 billion) Danish kroner in the first nine months of 2013, up 13% the like 2012 period. Its shares were down 4.3% in morning trading after the results missed analysts’ forecasts.

The company’s financial results released today (October 31) show that it made gross profit of 51.1 billion kroner, a 9% increase from 46.7 billion kroner in the same period last year. Operating profit was 24.1 billion kroner, up 10%, in the first nine months and 7.99 billion kroner in the third quarter, under analysts’ estimates of 8.19 billion kroner according to Reuters.

Net profit increased by 22% to 19.1 billion kroner. Diluted earnings per share were 35.39 kroner up 25% from 28.32 kroner last year.

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