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Novo Nordisk increased operating profit in local currencies by 11% in the first nine months of 2014

BAGSVAERD, Denmark, Oct. 30, 2014 (GLOBE NEWSWIRE) -- Sales increased by 8% in local currencies and by 4% in Danish kroner to DKK 64.2 billion during the first nine months of 2014 compared to the same period in 2013.

  • Sales of modern insulin increased by 13% (8% in Danish kroner).
  • Sales of Victoza® increased by 15% (12% in Danish kroner).
  • Sales in North America increased by 11% (7% in Danish kroner).
  • Sales in International Operations increased by 13% (1% in Danish kroner).
  • Sales in Region China increased by 14% (11% in Danish kroner).

Gross margin improved by 1.0 percentage point in Danish kroner to 83.6% driven by a favourable price development as well as a positive impact from product mix and productivity.

Operating profit increased by 11% in local currencies and by 5% in Danish kroner to DKK 25.3 billion.

Net profit increased by 4% to DKK 20.0 billion. Diluted earnings per share increased by 7% to DKK 7.56.

The roll-out of Tresiba® continues. In Japan, Tresiba® now represents 24% of the basal insulin market measured in monthly value market share.

In September, the European Commission granted marketing authorisation for Xultophy® for the treatment of type 2 diabetes mellitus in adults. Xultophy® is a fixed combination of insulin degludec (Tresiba®) and liraglutide (Victoza®).

For 2014, sales growth measured in local currencies is now expected to be 7-9% and operating profit growth measured in local currencies is still expected at around 10%.

The preliminary outlook for 2015 indicates high single-digit sales growth and around 10% operating profit growth, both measured in local currencies.

Lars Rebien Sørensen, CEO: "We are satisfied with the financial results for the first nine months of 2014. In the US, Levemir® continues to perform well, and with the approval of Xultophy® in Europe we now look forward to launching this product in the first half of 2015."

Contacts for further information

Media:
Mike Rulis +45 4442 3573 mike@novonordisk.com
Ken Inchausti (US) +1 609 514 8316 kiau@novonordisk.com
Investors:
Kasper Roseeuw Poulsen +45 3079 4303 krop@novonordisk.com
Jannick Lindegaard Denholt +45 3079 8519 jlis@novonordisk.com
Daniel Bohsen +45 3079 6376 dabo@novonordisk.com
Melanie Raouzeos +45 3075 3479 mrz@novonordisk.com
Frank Daniel Mersebach (US) +1 609 235 8567 fdni@novonordisk.com

Company announcement No 66 / 2014

Company announcement No 66 / 2014 http://hugin.info/2013/R/1866952/655927.pdf

HUG#1866952

Source:Novo Nordisk A/S