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Novo Nordisk increased operating profit by 18% in 2011 (2 February 2012)

Read the full announcement in PDF format

Sales growth of 9% driven by Victoza®, NovoRapid® and Levemir®

  • Sales increased by 11% in local currencies and by 9% in Danish kroner.
    • Sales of modern insulins increased by 11% (8% in Danish kroner).
    • Victoza® sales of DKK 5,991 million (growth of 159% in Danish kroner).
    • Sales of NovoSeven® increased by 7% (4% in Danish kroner).
    • Sales in North America increased by 18% (13% in Danish kroner).
    • Sales in International Operations increased by 17% (12% in Danish kroner).
  • Gross margin improved by 0.4 percentage point in local currencies, reflecting a favourable product mix development. Measured in Danish kroner, the gross margin increased by 0.2 percentage point to 81.0%.
  • Reported operating profit increased by 18% to DKK 22,374 million. In local currencies, operating profit increased by 22%. 
  • Net profit increased by 19% to DKK 17,097 million. Earnings per share (diluted) increased by 22% to DKK 29.99. A dividend of DKK 14.00 per share is proposed for approval at the Annual General Meeting - a 40% increase compared to 2010.
  • The regulatory reviews for the new ultra-long-acting insulins Degludec and DegludecPlus are on track. In the US, a regulatory action date of 29 July 2012 has been issued by the FDA. In Europe, the regulatory review is also progressing according to plan.
  • Novo Nordisk has successfully completed the phase 3a programme for turoctocog alfa, a recombinant FVIII for treatment of haemophilia A, and currently expects to file for marketing authorisation in the second half of 2012.
  • Lars Rebien Sørensen, Novo Nordisk's President and CEO, has accepted a proposal by the Board of Directors to extend his contract by three years with expiry in 2019.
  • For 2012, sales growth measured in local currencies is expected to be 7-11%, and operating profit growth measured in local currencies is expected to be around 10%.

Lars Rebien Sørensen, president and CEO: "2011 has been a very positive year for Novo Nordisk, with Victoza®, NovoRapid® and Levemir® continuing to drive strong sales growth. In addition, we saw significant progress for our portfolio of clinical development projects which is very encouraging for the long-term outlook for Novo Nordisk."

Contacts for further information:

 

Media: Investors:
Mike Rulis Klaus Bülow Davidsen
Tel: (+45) 4442 3573 Tel: (+45) 4442 3176
mike@novonordisk.com klda@novonordisk.com
Frank Daniel Mersebach
Tel: (+45) 4442 0604
fdni@novonordisk.com
Lars Borup Jacobsen
Tel: (+45) 3075 3479
lbpj@novonordisk.com
In North America
Ken Inchausti Jannick Lindegaard
Tel: (+1) 609 786 8316 Tel: (+1) 609 786 4575
kiau@novonordisk.com  jlis@ovonordisk.com

Company Announcement no 7 / 2012 

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