Novo Nordisk profits up 13% on insulin sales

Danish diabetes specialist Novo Nordisk increased its net profit by 13% in full-year 2008, year-on-year, driven by strong sales of modern  insulins. The news sent the firm's shares 4% higher on January 30.

Total revenue increased by 9% to 45.55 billion Danish kroner ($7.8  billion). Of this, 30.97 billion kroner came from modern insulins, a 24%  rise. Sales of NovoSeven were up 9% to 6.4 billion kroner and  Norditropin (somatropin) jumped 10% to 3.87 billion kroner.

R&D costs fell 8% to 7.86 billion kroner. Net profit increased to 9.65  billion kroner, or 15.54 kroner per share, versus 8.52 billion kroner,  or 13.39 kroner per share.