Novo Nordisk increased operating profit in Danish kroner by 73% in the first quarter of 2015 to DKK 13.9 billion

BAGSVAERD, Denmark, April 30, 2015 (GLOBE NEWSWIRE) -- Sales increased by 24% in Danish kroner and by 9% in local currencies to DKK 25.2 billion.

  • Sales of Victoza® increased by 36% (18% in local currencies).
  • Sales of Levemir® increased by 31% (13% in local currencies).
  • Sales in North America increased by 34% (11% in local currencies).
  • Sales in International Operations increased by 22% (12% in local currencies).
  • Sales in Region China increased by 31% (11% in local currencies).

Gross margin improved by 1.6 percentage points in Danish kroner to 84.6% driven by a positive currency impact.

Operating profit increased by 73% in Danish kroner and by 47% in local currencies to DKK 13.9 billion. Adjusted for the DKK 2.4 billion non-recurring income related to the partial divestment of NNIT, operating profit in local currencies increased by 17%.

Net profit increased by 53% to DKK 9.9 billion. Diluted earnings per share increased by 56% to DKK 3.79. Adjusted for the partial divestment of NNIT, net profit and diluted earnings per share increased by 22% and 24% respectively.

In March, Novo Nordisk announced the decision to submit the prespecified interim analysis of DEVOTE, the cardiovascular outcomes trial for Tresiba®, to the US FDA. The submission was accepted for review by the FDA in April.

Novo Nordisk reorganises its Executive Management, elevating the leaders of the commercial activities in the US, Europe and International Operations and of Product Supply to Executive Management. Kåre Schultz, president and COO, leaves Novo Nordisk.

For 2015, sales growth measured in local currencies is now expected to be 7-9%, whereas operating profit growth measured in local currencies is expected to be around 17%.

Lars Rebien Sørensen, CEO: "We are very pleased with the results during the first quarter of 2015. Victoza® and Levemir® continue to drive sales growth, and we have successfully passed several critical milestones for our portfolio of late-stage diabetes care projects." Commenting on the changes in Executive Management, he adds: "Kåre Schultz has during his 26 years with us played a key role in making Novo Nordisk a successful global company. I wish him all the best in his future endeavours."

Further information

Media:
Katrine Sperling +45 30796718 krsp@novonordisk.com
Ken Inchausti (US) +1 609 514 8316 kiau@novonordisk.com
Investors:
Kasper Roseeuw Poulsen +45 3079 4303 krop@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 31 / 2015

Company announcement No 31 / 2015 http://hugin.info/2013/R/1916948/685685.pdf

HUG#1916948

Source:Novo Nordisk A/S