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Novo Nordisk profits rise from insulin sales

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Novo Nordisk profits rise from insulin sales
Photo: Søren Bidstrup/Scanpix
16:39 CET+01:00
The world's top insulin maker, Denmark's Novo Nordisk, reported on Thursday a slight profit increase in the third quarter as sales rose.
Novo Nordisk accounts for almost half of the global insulin market, which has grown rapidly in recent years following a rise in the number of people suffering from diabetes.
 
The World Health Organization estimates that the number of people with diabetes totals nearly 350 million.
 
Net profit grew by 1.3 percent to 6.5 billion kroner ($1.1 billion) while revenue rose by 8.5 percent to 22.249 billion kroner.
 
 
In local currencies, sales increased by 8.0 percent from January to September, thanks to strong sales of modern insulin and non-insulin compound Victoza.
 
"We are satisfied with the financial results for the first nine months of 2014," chief executive Lars Rebien Sørensen said in a statement.
 
He added that the approval of insulin drug combination treatment Xultophy in Europe meant the company expected to launch the product in the first half of 2015.
 
Diabetes treatments represent 88 percent of Novo Nordisk's revenue, but the company also provides haemophilia care, growth hormone therapy and hormone replacement therapy.
 
On Monday, the company announced that it was served a subpoena by US authorities over "potential manufacturing issues" at its suburban Copenhagen facility.
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