Novo Nordisk posts strong sales and profits growth

Sales for the first nine months of 2015 at Danish diabetes care giant Novo Nordisk (NOV: N) increased by 23% in Danish kroner and by 9% in local currencies to 79.1 billion kroner ($11.7 billion), the company reported this morning. Result was boosted by sales in China and North America

Nine-month operating profit increased 51% in Dk and 26% in local currencies to 38.3 billion kroner. Adjusted for the 2.4 billion-kroner non-recurring income related to the partial divestment of NNIT, operating profit in local currencies increased 16%. Net profit increased 33% to 26.6 billion kroner. Diluted earnings per share increased 36% to 10.28 kroner. Adjusted for the partial divestment of NNIT, net profit and diluted earnings per share increased by 22% and 24%, respectively.

Third-quarter net profit rose 28.9% to 8.38 billion kroner, above analysts' expectations for 8.17 billion, kroner according to a FactSet poll, but Novo Nordisk’s shares dipped 2.2% to 376.80 kroner by mid-morning.