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Novo Nordisk revises up operating profit outlook after strong H1 performance

Xinhua, August 6, 2015 Adjust font size:

Global pharmaceuticals company Novo Nordisk of Denmark revised up its expected result of operating profit for the full year 2015, backed by solid half-year result, the company announced Thursday.

Novo Nordisk now expects its operating profit growth measured in local currencies to be around 19 percent, against a previous forecast of around 17 percent.

Operating profit for the first half-year 2015 rose 57 percent to 26.3 billion Danish kroner, or up 30 percent as measured in local currencies, when compared to the same period last year, it said in the interim financial report.

Adjusted for the 2.4 billion kroner non-recurring income related to the partial divestment of NNIT, operating profit in local currencies increased by 16 percent, it added.

Net profit for H1 2015 stood at 18.2 billion kroner, up 35 percent from 13.5 billion kroner for the same period last year.

Sales for the first six months of 2015 also increased by 25 percent, year-on-year, to stand at 52.3 billion kroner.

Novo Nordisk said sales growth was realised within both diabetes care and biopharmaceuticals, with the majority of growth originating from diabetes treatment Victoza and modern insulin.

The North America market accounted for 56 percent of the share of sales growth as measured in local currencies, followed by International Operations and Europe contributing 28 percent and 10 percent respectively.

In July, Novo Nordisk announced positive results from the first phase 3a trial with semaglutide, a new GLP-1 analogue to be administered subcutaneously once weekly.

Novo Nordisk maintains its full-year outlook for sales growth to be 7 - 9 percent. (1 U.S. dollar = 6.859 Danish kroner) Endit