A slowdown in the Chinese economy hasn't deterred pharmaceutical giant Novo Nordisk from expanding its local sales efforts.
The company's sales fell 6 percent in China to 2.2 billion Danish krone ($32 billion) in the second quarter compared to a year earlier, citing increased competition, a decline in diabetes growth, and distribution delays. Meanwhile, China sales for the first six months of 2015 increased by 25 percent in Danish krone, and 3 percent in local currencies.
Overall, second-quarter sales were up 25 percent to 27 billion Danish kroner ($39 billion) and 8 percent in local currencies. The company's quarterly operating profit numbers beat market forecasts, rising 43 percent from last year to 12.48 billion Danish krone ($1.8 billion).