Diabetes drugs helps boost Novo Nordisk in Q2

(AP) — Danish pharmaceutical company Novo Nordisk A/S says its net profit grew by 29 percent in the second quarter of 2012, chiefly spurred by strong sales of its new diabetes drugs.

The world's biggest insulin maker says net during the period rose to 5.35 billion kroner ($889 million) from 4.07 billion kroner a year earlier.

Revenues increased 22 percent to 19.47 billion kroner ($3.24 billion) from 16 billion kroner before.

Chief Executive Lars Rebien Soerensen said Thursday the Copenhagen-based group was "very satisfied" and that the performance was "driven by a continued strong performance of our modern insulins."

The group raised its 2012 sales growth outlook to 9-12 percent from 8-11 percent. It says operating profit growth is expected at around 15 percent, compared with at least 10 percent previously.

not rated yet
add to favorites email to friend print save as pdf

Related Stories

SAP says profits up in first quarter

Apr 25, 2012

German software giant SAP said Wednesday it was sticking to its full-year targets for 2012 after net profit rose 10 percent in the first three months.

SAP says profits up in first quarter

Apr 13, 2012

German software giant SAP said on Friday it was sticking to its full-year targets for 2012 after profits rose in the first three months.

Wind turbine maker's shares tumble on profit alert

Oct 31, 2011

Shares in Danish company Vestas, the world leader in the wind turbine industry, plunged by 20 percent on Monday after the company issued a full-year profit warning over delays on several projects.

SK Telecom Q4 net profit falls on higher spending

Feb 02, 2012

South Korea's largest mobile carrier SK Telecom said Thursday its fourth-quarter net profit fell 61 percent year-on-year due to higher spending on next-generation network technology and lower fees.

Recommended for you

Doctor behind 'free radical' aging theory dies

23 hours ago

Dr. Denham Harman, a renowned scientist who developed the most widely accepted theory on aging that's now used to study cancer, Alzheimer's disease and other illnesses, has died in Nebraska at age 98.

Mexican boy who had massive tumor recovering

Nov 25, 2014

An 11-year-old Mexican boy who had pieces of a massive tumor removed and who drew international attention after U.S. officials helped him get treatment in the southwestern U.S. state of New Mexico is still recovering after ...

New medical device to make the mines safer

Nov 21, 2014

Dehydration can be a serious health issue for Australia's mining industry, but a new product to be developed with input from Flinders University's Medical Device Partnering Program (MDPP) is set to more effectively ...

US family gets $6.75 million in Botox case

Nov 20, 2014

A New York couple who said Botox treatment of their son's cerebral palsy left him with life-threatening complications and sued its manufacturer won a $6.75 million verdict from a federal jury on Thursday.

User comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.