Sales grew 17% driven by Victoza®, NovoRapid® and Levemir®

Sales grew 17% to 37.2 billion in Danish kroner and by 12% in local currencies. 

• Sales of modern insulins increased by 20% (15% in local currencies).
• Sales of Victoza® increased by 82% (73% in local currencies).
• Sales in North America increased by 29% (19% in local currencies).
• Sales in International Operations increased by 19% (17% in local currencies)

- Reported gross margin improved by 1.3 percentage points to 81.7%.

- Reported operating profit increased by 31% to DKK 14,038 million. Measured in local currencies, operating profit increased by 21%.

- Net profit increased by 22% to DKK 10,010 million. Earnings per share (diluted) increased by 26% to DKK 17.99.

- The regulatory reviews of the new ultra-long-acting insulins, with the intended brand names Tresiba® and Ryzodeg®, progress in the major markets.

- In the US, the review has been extended with the tentative scheduling of an FDA advisory committee meeting 8 November.

- The first phase 3a trial for IDegLira, a fixed ratio combination of insulin degludec and liraglutide, demonstrates superior glucose control in the IDegLira-treated patients while reconfirming the competitive profiles of Tresiba® and Victoza®.

- In the recently completed pivotal phase 3 trial for vatreptacog alfa, a fast-acting recombinant coagulation factor VIIa analogue, one patient developed antibodies with a potentially neutralising effect. The impact of this finding on the project is currently being evaluated.

- For 2012, sales growth measured in local currencies is now expected to be 9-12% (previously 8-11%), and operating profit growth measured in local currencies is now expected to be around 15% (previously at least 10%).

Lars Rebien Sørensen, president and CEO: "We are very satisfied with the financial performance in the first half of 2012, driven by a continued strong performance of our modern insulins and Victoza®. We are also encouraged by the IDegLira data which show the benefits of Tresiba® in combination with Victoza®."

Contacts for further information

Company Announcement No 50 / 2012