Novo Nordisk's 1st-half 2006 sales rise 20%

Danish insulin giant Novo Nordisk AS says that its sales in the first six months of 2006 increased 20% on the comparable period last year, as revenue from its insulin analogs surged 59%. NovoSeven, the firm's recombinant coagulation factor VIIa increased 19%, up 31% in North America.

The group's operating profit rose 17% to $742.0 million as net profit was largely unchanged at $486.0 million, and diluted earnings per share rose 4% to $1.50.

On the strength of these results, Lehman Brothers continues to rate the firm as 1-overweight, noting that its second-quarter earnings per share of 5.37 Danish kroner were well ahead consensus estimates of 4.74 kroner.