PRINCETON, N.J., Oct. 31 /PRNewswire-FirstCall/ -- Novo Nordisk (NYSE: NVO), a global healthcare company, today released its financial statement for the period January 1, 2007 to September 30, 2007.
-- Novo Nordisk increased sales by 14% in local currencies and by 9% in
Danish kroner due to a significant negative currency development.
-- Sales of modern insulins increased by 37% (31% in Danish kroner).
-- Sales of NovoSeven(R) increased by 10% (4% in Danish kroner).
-- Sales of Norditropin(R) increased by 12% (7% in Danish kroner).
-- Sales in North America increased by 25% (15% in Danish kroner).
-- Gross margin increased to 76.7% in the first nine months of 2007 up
from 75.2% in the same period last year, primarily reflecting continued
-- Operating profit increased by 11% to USD 1,410 million. Adjusted for
the impact from currencies, underlying operating profit increased by
more than 20%.
-- Net profit increased by 60% to USD 1,361 million, primarily reflecting
the divestment of Dako's business activities in the second quarter of
2007. Earnings per share (diluted) increased by 62% to USD 4.26.
-- The expectation for full-year sales growth is still 11-14% measured in
local currencies and now 6-9% as reported due to the depreciation of
key invoicing currencies. Full-year operating profit growth remains
unchanged around 20% measured in local currencies and is now expected
to be close to 10% as reported.
-- In October, Novo Nordisk received marketing authorization for
Levemir(R) in Japan for both type 1 and type 2 diabetes including
combination treatment with oral antidiabetics.
Lars Rebien Sorensen, president and CEO, said "Our portfolio of modern insulins continues to show strong sales growth in all key markets. Within the next few months we will be launching Levemir(R) in FlexPen(R) in Japan, which will further support growth in the coming years."
* For convenience, Danish kroner has been translated to USD in this release, using the average exchange rate of USD 1.00 = DKK 5.54317.
Novo Nordisk is a healthcare company with an 84-year history of innovation and achievement in diabetes care. The company has the broadest diabetes product portfolio in the industry, including the most advanced products within the area of insulin delivery systems.In addition to diabetes care, Novo Nordisk has a leading position within areas such as hemostasis management, growth hormone therapy, and hormone therapy for women. Novo Nordisk's business is driven by the Triple Bottom Line: a commitment to economic success, environmental soundness, and social responsibility to employees and customers. With headquarters in Denmark, Novo Nordisk employs more than 23,600 employees in 79 countries, and markets its products in 179 countries. Novo Nordisk's B shares are listed on the stock exchanges in Copenhagen and London. Its ADRs are listed on the New York Stock Exchange under the symbol 'NVO'. For global information, visit novonordisk.com; for United States information, visit novonordisk-us.com.
|SOURCE Novo Nordisk|
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