Navigation Links
Novo Nordisk Increased Net Profit by 32% in 2007
Date:1/31/2008

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 for 2007.

-- Sales in local currencies increased by 13% in 2007 and by 8% in Danish

kroner.

* 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

kroner).

-- 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 2008, reported operating profit is expected to grow by at least

25%. Adjusted for currency impact and the non-recurring costs related

to the discontinuation of AERx(R), the expectation for underlying

operating profit growth is at least 20%.

Lars Rebien Sorensen, president and CEO, said: "We are very pleased with the 2007 results. They are driven by robust sales growth in all major markets of our portfolio of modern insulins and strong gross margin improvement. This makes us confident that we will also be able to deliver solid underlying growth in 2008."

* For convenience, Danish kroner has been translated to USD in this release, using the average exchange rate of USD 1.00 = DKK 5.44371

About Novo Nordisk

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 25,800 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
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Novo Nordisk Settles With Pfizer On Patent Infringement Suit
2. Novo Nordisk Ranks Supersector Leader in the 2007 Dow Jones Sustainability Indexes
3. Novo Nordisk Appoints New Leader of North American Business
4. AdvaMed Supports Increased Funding for FDA
5. Increased Usage of Mifeprex(R) Helps Slow Decline in Abortion Providers
6. New Study Indicates Decreasing Prescription Copayments Results in Increased Adherence for Patients with Chronic Diseases
7. Some types of temporary neurological problems associated with increased risk for stroke, dementia
8. Menopausal Women May Have an Increased Asthma Risk, From The Journal of Allergy and Clinical Immunology
9. Psoriasis Study Showing Increased Risk of Death Underscores Need for More Research, Group Says
10. Older Diabetics Using Avandia Face Increased Death Risk
11. Short, long sleep duration associated with increased mortality
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/2/2016)... ... May 02, 2016 , ... MedPro Waste Disposal, LLC (MedPro) is proud ... now offers its mail back service for an all-inclusive rate. MedPro Disposal President, Dan ... provide service to all of the clients in the country who are looking for ...
(Date:5/2/2016)... Vegas, NV (PRWEB) , ... May 02, 2016 ... ... Specialty Pharmacy Times, has announced a new Specialty Pharmacy Patient Satisfaction Award that ... determined based on the quarterly results from Zitter Health Insights’ Specialty Pharmacy Patient ...
(Date:5/2/2016)... ... , ... The 2016 World Ultimate & Guts Championship (WUGC) Mixed roster was announced in February ... The WUGC is being held in London, England this year from June 18-25. At the ... another gold in the women’s masters division, and a silver in the women’s division, so ...
(Date:5/2/2016)... ... May 02, 2016 , ... Pregnancy Awareness Month offers a great time to ... , “If you are ready to have a baby, it’s best to get started ... Babies is your Personal Conception & Pregnancy Organizer, written for women who plan on ...
(Date:5/2/2016)... ... May 02, 2016 , ... A research ... two groundbreaking studies that determined that the adjustability and adaptability of pediatric support ... prevention of pressure injuries, which are now referred to as “pressure injuries” by ...
Breaking Medicine News(10 mins):
(Date:4/29/2016)... April 29, 2016 Acquisition ... Sciences, Product Development Capabilities in North ... Base . Indegene ( http://www.indegene.com ... the acquisition of Skura Corporation,s life science business. ... adaptive sales enablement technology for life science organizations ...
(Date:4/28/2016)... 2016  While Abbott,s announced purchase of St. ... repair and stent business, healthcare research firm Kalorama ... firmly into patient monitoring.  Kalorama said that patient ... areas, with double-digit growth expected the next 5 ... Remote Patient Monitoring . Abbott Laboratories agreed ...
(Date:4/28/2016)... , April 28, 2016 ... insights on healthcare, announced today that it has been ... Cool Vendor in Life Sciences, 2016, ... 2016.  The report focuses on life-science- oriented analytics, algorithms ... from patients and doctors, confirm medication ingestion, and analyze ...
Breaking Medicine Technology: