Good First Quarter For Novo Nordisk

Novo Nordisk achieved turnover in the first quarter of 1995 of 3.4 billion Danish kroner ($621.2 million), up 9% on the year-earlier quarter. Net income advanced 15% to 310 million kroner and pretax profits were ahead 18% to 425 million kroner. Earnings per share were 8.26 kroner, up 15%.

The company's health care business achieved turnover in the first quarter of 2.4 billion kroner. Sales experienced a 5% negative impact from currency exchange rates. Sales of diabetes care products grew 8% to 1.6 million kroner. This growth was attributed mainly to larger volumes and an improved insulin product mix. Satisfactory progress was noted in key markets such as Japan, Germany and the UK. Sales to the USA declined due to the 13% decrease in the average value of the US dollar in relation to the Danish kroner from the first quarter of 1994 to the first quarter of 1995.

Sales of hormone replacement therapy products grew 27% to 190 million kroner, reflecting larger volumes sold in key markets such as Germany, the UK and the Nordic countries. Sales of human growth hormone, Norditropin, were 349 million kroner, also up 27%. Other health care product sales advanced 44% to 216 million kroner.