Insulin gives Denmark's Novo Nordisk a Q1 boost

(AP)—Danish pharmaceutical company Novo Nordisk A/S says first-quarter net profit rose 28 percent on strong sales of its diabetic drugs.

The world's largest insulin maker said in the first three months of 2013 was 5.9 million kroner ($1 million), up from 4.7 million kroner. Revenue for the period came in at 20 billion kroner ($3.5 billion), up 13 percent.

Chief Executive Lars Rebien Soerensen said Wednesday he was pleased by the strong insulin sales, and said the company expects to see sales grow between 9 and 11 percent this year and rising by around 10 percent.

The company's share price was up around 0.2 percent at 993 kroner in morning trading in Copenhagen.

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