Underlying operating profit increased by close to 25% primarily driven by a
13% sales growth in local currencies
PRINCETON, N.J., Jan. 31 /PRNewswire-FirstCall/ -- Novo Nordisk (NYSE:
NVO), a global healthcare company, today released its financial statement
-- Sales in local currencies increased by 13% in 2007 and by 8% in Danish
* Sales of modern insulins increased by 35% (29% in Danish kroner).
* Sales of NovoSeven(R) increased by 10% (4% in Danish kroner).
* Sales of Norditropin(R) increased by 11% (6% in Danish kroner).
* Sales in North America increased by 22% (12% in Danish kroner).
* Sales in International Operations increased by 18% (12% in Danish
-- Gross margin increased to 76.6% in 2007, up from 75.3% in 2006,
primarily reflecting continued productivity improvements.
-- Reported operating profit of USD 1,643 million (2% lower than in 2006)
was impacted by the non-recurring costs of USD 239 million related to
the discontinuation of the inhaled insulin project AERx(R). Adjusted
for these non-recurring costs and the impact from currencies,
underlying operating profit increased by close to 25%.
-- Net profit increased by 32% to USD 1,565 million. Adjusted for both
the non-recurring income from the divestment of Dako's business
activities and the non-recurring costs related to the discontinuation
of AERx(R), net profit increased by 25%. Earnings per share (diluted)
increased by 34% to USD 2.46.
-- At the Annual General Meeting on March 12, 2008, the Board of Directors
will propose a 29% increase in dividend to USD 0.83 per share of DKK 1.
The ongoing share repurchase program has been increased to USD 3.0
billion and is now expected to be finalized before the end of 2009.
-- For 200
|SOURCE Novo Nordisk|
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