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Published on 5 August 2010

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Novo Nordisk reveals profits rise


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

Novo Nordisk

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