Novo Nordisk sees a 16% climb in profits

Danish drugmaker Novo Nordisk has announced an operating profit of 8.0 billion Danish kroner ($1.31 billion), a 16% increase compared with 2004. The firm says that a 62% increase in sales of its insulin analogues range, the 16% jump in NovoSeven revenue and the general 27% hike in US product sales is responsible for its 2005 performance.

Analysts at Lehman Brothers commented that the firm's figures were in line with their forecast, adding that they expect a slow down for the company in 2006 due to the increased marketing spend required to launch Levemir, its leading insulin analog, in the USA, and the increase in its R&D budget to meet the expense of various Phase III trials which are expected.