Novo Nordisk increased operating profit in local currencies by 12% in the first six months of 2014

Novo Nordisk increased operating profit in local currencies by 12% in the first six months of 2014
7% sales growth in local currencies driven by Levemir® and Victoza®

Sales increased by 7% in local currencies and by 1% in Danish kroner to DKK 42.0 billion during the first six months of 2014 compared to the same period in 2013.

Sales of modern insulin increased by 12% (6% in Danish kroner).
Sales of Victoza® increased by 12% (8% in Danish kroner).
Sales in North America increased by 9% (4% in Danish kroner).
Sales in International Operations increased by 11% (decreased by 3% in Danish kroner).
Sales in Region China increased by 17% (13% in Danish kroner).

Gross margin improved by 0.4 percentage point in Danish kroner to 83.0% driven by a favourable price development as well as a positive impact from product mix and productivity.

Operating profit increased by 12% in local currencies and by 4% in Danish kroner to DKK 16.8 billion.

Net profit increased by 6% to DKK 13.5 billion. Diluted earnings per share increased by 9% to DKK 5.09.

The roll-out of Tresiba® (insulin degludec), the once-daily new-generation insulin with an ultra-long duration of action, continues. In Japan, the first country to launch Tresiba® with reimbursement at a similar level as insulin glargine in March 2013, it now represents 21% of the basal insulin market measured in monthly value market share.

The cardiovascular outcomes trial for Tresiba®, DEVOTE, is progressing ahead of plans and Novo Nordisk now expects to have data to support an interim analysis around the turn of the year 2014/2015 which potentially enables a submission of the interim analysis to the US FDA in the first half of 2015.

For 2014, sales growth measured in local currencies is still expected to be 7-10% and operating profit growth measured in local currencies is still expected at around 10%.

Lars Rebien Sørensen, CEO: "We are satisfied with the financial results achieved in a challenging first half of 2014. Tresiba® is doing well in key markets and the DEVOTE trial continues to progress ahead of plans. This has enabled us to shorten further the timeline towards the interim analysis and a potential US launch of Tresiba®. Furthermore, with the positive opinion for Xultophy® from the EU regulatory authorities, we have passed a key milestone in bringing the first insulin and GLP-1 combination product to the market."

Contacts for further information

Media:
  
Mike Rulis +45 4442 3573 [email protected]
Ken Inchausti (US) +1 609 514 8316 [email protected]
Investors:
  
Kasper Roseeuw Poulsen +45 3079 4303 [email protected]
Jannick Lindegaard Denholt +45 3079 8519 [email protected]
Daniel Bohsen +45 3079 6376 [email protected]
Frank Daniel Mersebach (US) +1 609 235 8567 [email protected]
Company announcement No 48 / 2014

Suggested Articles

Stephen Hahn, an oncologist who served as the chief medical officer for the MD Anderson Cancer Center, has secured Senate confirmation as FDA head.

As BMS searches for bright spots in its Opdivo-chemo combo fail from June, it’s zeroing in on squamous lung cancer patients who seemed to benefit.

The FDA's ad watchdog served its most serious violation to Alkermes Wednesday—and it took the unusual step of announcing that violation to the world.