Good performance from Novo Nordisk

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Scandinavian pharmaceutical group Novo Nordisk reported a 14 per
cent increase in sales in 2001 to DKr23.8 billion (€3.2bn)

Scandinavian pharmaceutical group Novo Nordisk reported a 14 per cent increase in sales in 2001 to DKr23.8 billion (€3.2bn).

Operating profit growth of 17 per cent was better than expected, the company said, with the figure reaching DKr5.6 billion. Pre-tax profit was 25 per cent higher than in 2000 at DKr6.0 billion.

Sales growth was driven by increased sales volumes and improved product mix, with diabetes care and hemostasis management as the main drivers. Solid growth was realised worldwide with Europe as the largest contributor of growth in absolute terms followed by the US.

Sales of diabetes care products grew by 14 per cent to DKr16.6 billion, reflecting volume growth of products such as Penfill 3ml, NovoLet 3ml, NovoRapid/NovoLog (rapid-acting insulin analogue), InnoLet and NovoNorm/Prandin.

The company said that roll out of a range of new products planned for 2002 should help it continue the good performance this year, with another increase in operating profits of around 15 per cent.

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