Pretax profits up 33% at Novo Nordisk

Novo Nordisk has posted a 16% increase in sales for the first ninemonths of 2001, up to 17.32 billion Danish kroner ($2.09 billion), while pretax profits and net income rose 30% and 34% to 4.46 billion kroner and 2.86 billion kroner, respectively. Earnings per share climbed 35% to 8.21 kroner in the period.

Novo's diabetes product sales increased 15% to 12.15 billion kroner, driven by Prandin/NovoNorm (repaglinide), which rose 44% to 1.13 billion kroner, thanks to strong performances in all markets. Of the firm's other products, sales of NovoSeven (recombinant coagulation Factor VIIa), for the treatment of patients with hemophilia A or B, rose 42% to 2.25 billion kroner, boosted by a strong performance in the USA, while hormone replacement therapy revenues were up 12% to 1.04 billion kroner, driven by Activelle (estradiol and norethindrone) and Vagifem (estradiol).

Turnover of Novo's human growth hormones increased 3% to 1.54 billion kroner, due principally to continued strong sales in Europe of Norditropin SimpleXx, its liquid growth hormone in a pen device. However, sales of these products in Japan were negatively impacted by inventory adjustments at wholesalers, while the depreciation of the yen also hit the figures.