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Novo Nordisk's First-Quarter Profit Grows 23 Percent to $802 Million

From Canadian Press DataFile (April 28, 2011)

COPENHAGEN, Denmark _ Danish pharmaceutical company Novo Nordisk A/S says first-quarter net profit grew 23 per cent to 4.07 billion kroner ($802.1 million) on strong sales.

The world's biggest insulin maker says net profit in the January-March period grew from 3.3 billion kroner a year earlier. Revenue increased 15 per cent to 15.7 billion kroner from 13.7 billion kroner.

Chief Executive Lars Rebien Soerensen said Thursday that the 2011 outlook remained unchanged with sales expected to grow 8-10 per cent and operating profit growth of around 15 per cent.

Rebien Soerensen said the group was `"encouraged by the continued double-digit sales growth" of its new diabetes drug Victoza and modern insulins.


Posted: April 2011