Sales up 18% in 1st qtr for Novo Nordisk

Danish diabetes specialist Novo Nordisk increased sales by 18% in the first quarter of 2009. Turnover of modern insulins increased by 31%;  recombinant coagulation factor NovoSeven rose 25% and Norditropin  (somatropin) was up 18%. North American revenue jumped 31%, while  turnover from the rest of the world increased 20%.

Net profit was up by 24% to 2.7 billion Danish kroner ($483.8 million),  while diluted earnings per share rose 27% to 4.41 kroner. For 2009,  operating profit measured in local currencies is now expected to grow by  at least 10% and reported operating profit growth to be around eight  percentage points higher.

Chief executive Lars Sorensen said: "we are satisfied with the financial  performance during the first quarter of 2009, which is driven by solid  sales growth for the modern insulins and gross margin improvements."