teaser
Drug manufacturer Novo Nordisk A/S has revealed profit for the second quarter rose by 19%.
The Danish company revealed the improvement was largely due to higher sales of its insulin products.
In its announcement, Novo said net profit over the three-month period was 3.5 billion Danish kroner (£390 million), representing an increase of 3 billion kroner compared with the same time in 2009.
According to the figures, sales increased 18% to 15.4 billion kroner from 13 billion last year.
As a result of the improved sales, the company raised the outlook for the rest of 2010 and said it expects profits to increase between 12 and 15% compared with an initial expectation of 10%.
However, the company also increased its forecast for net financial costs to 1.75 billion kroner, from 700 million previously.
Copyright © Press Association 2010
