Solid Double-Digit Profits Growth For Novo Nordisk In 1996

Danish company Novo Nordisk had a good year in 1996, with pretax profitsrising 17% to 2.52 billion Danish kroner ($388.2 million). Net income was 1.80 billion kroner, up 15%, and operating profits were 2.39 billion kroner, also up 15%.

For the year, consolidated sales were up 8% to 14.87 billion kroner. Revenues for continuing businesses were up 12% in kroner, and 13% in local currencies.

The firm's health care business achieved turnover of 11.1 billion kroner, up 12%. The unit felt a 2% negative impact from currencies, with volume and product mix positively affecting sales by 14%.