Novo Nordisk nine-month sales up 13%; takes larger diabetes market share
Danish insulin giant Novo Nordisk (NOV: N) reported sales of 61.9 billion ($11.3 billion) Danish kroner in the first nine months of 2013, up 13% the like 2012 period. Its shares were down 4.3% in morning trading after the results missed analysts’ forecasts.
The company’s financial results released today (October 31) show that it made gross profit of 51.1 billion kroner, a 9% increase from 46.7 billion kroner in the same period last year. Operating profit was 24.1 billion kroner, up 10%, in the first nine months and 7.99 billion kroner in the third quarter, under analysts’ estimates of 8.19 billion kroner according to Reuters.
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