Novo Nordisk's 1st-qtr 2006 sales up 23%

Denmark-based diabetes giant Novo Nordisk AS says that its first-quarter 2006 sales increased 23% on the like year-ago period, to 8.9 billion Danish kroner ($1.5 billion), positively impacted by revenues in foreign currencies and falling ahead of Lehman Brother's predictions.

Sales of insulin analogs increased 60%, with income from of NovoSeven up 16% as sales in North America jumped 32% and turnover from international operations rose 56%.

However, the group's earnings were below analysts' consensus forecasts, with net profit down 2% to $195.0 million. But the firm noted that, adjusted for non-recurring gains in the first quarter of 2005, net profit increased more than 15% and earnings per share rose 1% to $0.60.