Drugmaker Novo Nordisk profits jump in diabetes scourge

May 2, 2018
Novo Nordisk is the world's leading insulin maker

Danish drugmaker Novo Nordisk, the world's leading insulin provider, on Wednesday reported a six percent jump in net profit in the first quarter, as the global onslaught of diabetes continued to grow.

The group saw its grow to 10.7 billion kroner (1.44 billion euros, $1.72 billion) even as its sales decreased by five percent in Danish kroner year-on-year, reflecting a depreciation of the US dollar.

Novo Nordisk, which holds 46 percent of the world's insulin market share, is performing well thanks to a global scourge.

According to the World Health Organization, the number of people with diabetes has soared from 108 million in 1980 to 422 million in 2014.

The global prevalence of diabetes among adults has nearly doubled during that time, to 8.5 percent.

WHO has estimated 1.6 million deaths around the world were directly caused by diabetes in 2015, while another 2.2 million deaths were linked to in 2012.

For 2018, Novo Nordisk expects sales to grow by three to five percent in local currency, compared with two to five percent as previously announced.

The vast majority—84 percent—of the company's sales were in diabetes medication, including the flagship Tresiba insulin drug and Victoza, which is similar to insulin.

The rest came from treatments for haemophilia and growth hormones, for which Novo Nordisk saw its sales decrease by three and 10 percent respectively.

During the same period, the European and Japanese authorities granted the drugmaker authorisation for Ozempic, its new medication for type-2 diabetes.

The treatment was launched in the United States in February.

Explore further: Novo Nordisk raises profit forecast as earnings jump

Related Stories

Novo Nordisk raises profit forecast as earnings jump

October 29, 2015
The world's largest insulin maker, Novo Nordisk, raised Thursday its annual profit guidance after net profit jumped by 29 percent in the third quarter.

Novo Nordisk says US launch 'encouraging' as profit drops

April 29, 2016
The world's largest maker of diabetes treatments, Novo Nordisk, said on Friday that the US launch of ultra-long acting insulin Tresiba had been "encouraging" as it reported a drop in first quarter profit.

Insulin gives Denmark's Novo Nordisk a Q1 boost

May 1, 2013
(AP)—Danish pharmaceutical company Novo Nordisk A/S says first-quarter net profit rose 28 percent on strong sales of its diabetic drugs.

Novo Nordisk shares drop amid US pricing concerns

August 5, 2016
Shares in the world's largest maker of diabetes treatments, Novo Nordisk, fell more than eight percent on Friday after the company said prices were under pressure in the United States and lowered its growth forecast.

Danish Novo Nordisk profit surges

January 31, 2013
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 ...

Novo Nordisk cuts profit forecast amid US challenges

October 28, 2016
Shares in the world's largest maker of diabetes treatments, Novo Nordisk, fell by more than 19 percent on Friday after it cut its profit forecast, reflecting tough competition in the US market.

Recommended for you

Best of Last Year—The top Medical Xpress articles of 2017

December 20, 2017
It was a good year for medical research as a team at the German center for Neurodegenerative Diseases, Magdeburg, found that dancing can reverse the signs of aging in the brain. Any exercise helps, the team found, but dancing ...

Pickled in 'cognac', Chopin's heart gives up its secrets

November 26, 2017
The heart of Frederic Chopin, among the world's most cherished musical virtuosos, may finally have given up the cause of his untimely death.

Sugar industry withheld evidence of sucrose's health effects nearly 50 years ago

November 21, 2017
A U.S. sugar industry trade group appears to have pulled the plug on a study that was producing animal evidence linking sucrose to disease nearly 50 years ago, researchers argue in a paper publishing on November 21 in the ...

Female researchers pay more attention to sex and gender in medicine

November 7, 2017
When women participate in a medical research paper, that research is more likely to take into account the differences between the way men and women react to diseases and treatments, according to a new study by Stanford researchers.

Drug therapy from lethal bacteria could reduce kidney transplant rejection

August 3, 2017
An experimental treatment derived from a potentially deadly microorganism may provide lifesaving help for kidney transplant patients, according to an international study led by investigators at Cedars-Sinai.

Exploring the potential of human echolocation

June 25, 2017
People who are visually impaired will often use a cane to feel out their surroundings. With training and practice, people can learn to use the pitch, loudness and timbre of echoes from the cane or other sounds to navigate ...

0 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.