Interim financial report for the period 1 January 2009 to 30 September 2009 (29 October 2009)
| Read the full release in PDF format |
Novo Nordisk increased operating profit by 30% in the first nine months of 2009
- Sales increased by 15% in Danish kroner and by 11% in local currencies.
o Sales of modern insulins increased by 28% (24% in local currencies).
o Sales of NovoSeven® increased by 15% (11% in local currencies).
o Sales of Norditropin® increased by 15% (9% in local currencies).
o Sales in North America increased by 29% (17% in local currencies).
o Sales in International Operations increased by 18% (16% in local currencies).
- Gross margin improved by 2.5 percentage points to 79.5% in the first nine months of 2009, primarily reflecting continued productivity improvements and a positive currency impact of around 1 percentage point.
- Reported operating profit increased by 30% to DKK 11,714 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 around 15%.
- Net profit increased by 15% to DKK 8,445 million. Earnings per share (diluted) increased by 18% to DKK 13.90.
- Novo Nordisk continues the constructive dialogue with the United States Food and Drug Administration (FDA) regarding the regulatory process for liraglutide. Formal feedback from the FDA regarding liraglutide, a once-daily human GLP-1 analogue, is still expected in the fourth quarter of 2009.
- For 2009, expectations for growth in operating profit measured in local currencies are increased to around 15% and reported operating profit growth is now expected to be around 3 percentage points higher than the operating profit growth in local currencies.
Lars Rebien Sørensen, president and CEO, said: "The robust sales growth for our portfolio of modern insulins is the key driver of the solid business performance in the first nine months of 2009. The launch of Victoza® in Europe is progressing well and we are seeing strong in-market penetration in the first-wave launch countries, Germany, the United Kingdom and Denmark."
Contacts for further information
Media: | Investors: |
Mike Rulis | Mads Veggerby Lausten |
Tel: (+45) 4442 3573 | Tel: (+45) 4443 7919 |
E-mail: mike@novonordisk.com | E-mail: mlau@novonordisk.com |
Kasper Roseeuw Poulsen | |
Tel: (+45) 4442 4471 | |
E-mail: krop@novonordisk.com | |
In North America: | |
Sean Clements | Hans Rommer |
Tel: (+1) 609 514 8316 | Tel: (+1) 609 919 7937 |
E-mail: secl@novonordisk.com | E-mail: hrmm@novonordisk.com |
Company Announcement no 63 / 2009
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