Danish Novo Nordisk profit surges

Danish pharmaceutical company Novo Nordisk A/S on Thursday reported a 23 percent growth in fourth-quarter net profit on strong sales of diabetic drugs and gave a positive outlook as regulators worldwide begin to approve its latest range of insulin products.

The world's largest insulin maker said net profit was 5.7 billion kroner ($1 billion) in the three-month period with revenue increasing 16 percent to 21 billion from 18 billion kroner a year earlier. Net profit in the full-year grew 25 percent to 21.4 billion kroner with sales of 78 billion kroner.

Chief Executive Lars Rebien Soerensen described 2012 as "another year with strong results," driven by successful insulin sales.

The company said it expects revenue growth of 8 to 11 percent this year with operating profit increasing some 10 percent.

Novo Nordisk, which said it was the world leader in sales of diabetes care products, said sales grew 21 percent last year compared to a year earlier to 60 billion kroner. It also claims the global top spot in the insulin market with a share of 49 percent.

The company said that Novo Nordisk Inc. was one of several hormone therapy product manufacturers in the United States which are defendants in product liability lawsuits related to hormone therapy products involving 38 people. It said it does not expect the pending claims to have a material impact on its financial position, operating profit and cash flow.

The company employed some 35,000 people at the end of 2012, up from 33,000 a year earlier.

Novo Nordisk's share price was up slightly at 1,027.00 kroner in afternoon trading in Copenhagen.

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

Related Stories

Diabetes drugs helps boost Novo Nordisk in Q2

Aug 09, 2012

(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.

Japan's Fujitsu hit by third-quarter loss

Jan 31, 2012

Japanese high-tech giant Fujitsu plunged into a net loss for the three months to December, it said Tuesday, as it slashed its full-year sales and profit forecast.

Taiwan's HTC expects 30 percent sales plunge in 1Q

Feb 06, 2012

Taiwan's leading smartphone maker HTC forecast Monday that its revenue in the three months to March may plunge 30 percent from a year ago, as competitors Apple and Samsung take their grip on the market.

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.

Recommended for you

Motion capture examines dance techniques

Sep 29, 2014

WAAPA dance students are set to take part in a world-first biomechanical study that tracks their training, technique and injuries as they develop as professional performers.

User comments