News

Interim financial report for the period 1 January 2009 to 30 June 2009 (6 August 2009)

Read the full announcement in PDF format

Novo Nordisk increased operating profit by 39% in the first six months of 2009
Raises outlook for underlying operating profit growth for the full year

 

  •          Sales increased by 17% in Danish kroner and by 11% in local currencies.

    o        Sales of modern insulins increased by 31% (25% in local currencies).

    o        Sales of NovoSeven® increased by 19% (13% in local currencies).

    o        Sales of Norditropin® increased by 16% (8% in local currencies).

    o        Sales in North America increased by 34% (18% in local currencies).

    o        Sales in International Operations increased by 21% (17% in local currencies).

  •          Gross margin improved by 2.8 percentage points to 79.9% in the first six months of 2009, primarily reflecting continued productivity improvements and a positive currency impact of around 1.3 percentage points.

  •          Reported operating profit increased by 39% to DKK 7,900 million. Adjusted for the impact from currencies and non-recurring costs in 2008 related to the discontinuation of all pulmonary delivery projects, underlying operating profit increased by more than 15%.

  •          Net profit increased by 22% to DKK 5,690 million. Earnings per share (diluted) increased by 25% to DKK 9.32.

  •          In a recently completed phase 3 study with approximately 650 people with type 2 diabetes comparing liraglutide (Victoza®) and sitagliptin, a DPP-IV inhibitor, blood glucose reductions and weight loss were statistically significantly higher with liraglutide 1.8 and 1.2 mg compared to sitagliptin. The safety profile of liraglutide in this study was comparable to the profile established in the previous clinical studies.

  •          Novo Nordisk continues the constructive dialogue with the United States Food and Drug Administration (FDA) regarding the regulatory process for liraglutide, and formal feedback from the FDA is expected later this quarter.

  •          For 2009, operating profit measured in local currencies is now expected to grow by 12-14% and reported operating profit growth to be around 4 percentage points higher than the operating profit growth in local currencies.

    Lars Rebien Sørensen, president and CEO, said: "The performance in the first half of 2009 is encouraging and we raise our guidance for underlying operating profit growth. We are very pleased that Victoza® is now launched in the United Kingdom, Germany and Denmark and we look forward to making Victoza® available to more people with type 2 diabetes."

    Contacts for further information

    Company Announcement no 46 / 2009

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