Strong set of 2010 financials from Novo Nordisk

Danish drugmaker Novo Nordisk delivered a strong set of full-year financial results for 2010, with net profit increased leaping 34% to 14.403 billion Danish kroner ($2.65 billion). Earnings per share (diluted) increased by 38% to 24.60 kroner. Group sales advanced 19% to 60.78 billion kroner.

All regions contributed to sales growth measured in local currencies; North America was the main contributor with 62% share of growth measured in local currencies, followed by International Operations and Europe, contributing 24% and 12%, respectively. Sales growth was realised within both diabetes care and biopharmaceuticals, with the majority of growth originating from the modern insulins and Victoza (liraglutide), the company noted.

In 2010, Novo Nordisk reached the four long-term financial targets announced in the annual report for 2008. Consequently, three of the four targets have been increased while the core target of 15% annual operating profit growth has been maintained.