Novo Nordisk increased operating profit by 18% in 2011 (2 February 2012)
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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:
|Mike Rulis||Klaus Bülow Davidsen|
|Tel: (+45) 4442 3573||Tel: (+45) 4442 3176|
|Frank Daniel Mersebach|
|Tel: (+45) 4442 0604|
|Lars Borup Jacobsen|
|Tel: (+45) 3075 3479|
|In North America|
|Ken Inchausti||Jannick Lindegaard|
|Tel: (+1) 609 786 8316||Tel: (+1) 609 786 4575|
Company Announcement no 7 / 2012