Novo Nordisk increased operating profit by 51%

 

 

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16% local currency operating profit growth adjusted for the NNIT divestment

Sales increased by 23% in Danish kroner and by 9% in local currencies to DKK 79.1 billion.

  • Sales of Victoza® increased by 39% (21% in local currencies)
  • Sales of Levemir® increased by 27% (10% in local currencies).
  • Sales in North America increased by 33% (10% in local currencies).
  • Sales in International Operations increased by 23% (17% in local currencies).
  • Sales in Region China increased by 26% (5% in local currencies).

Gross margin improved by 1.8 percentage points in Danish kroner to 85.4% driven by a positive currency impact. Operating profit increased by 51% in Danish kroner and by 26% in local currencies to DKK 38.3 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 16%.

Net profit increased by 33% to DKK 26.6 billion. Diluted earnings per share increased by 36% to DKK 10.28. Adjusted for the partial divestment of NNIT, net profit and diluted earnings per share increased by 22% and 24% respectively.

In September, Novo Nordisk announced the US FDA approval of Tresiba® and Ryzodeg® 70/30 after the review of the class II resubmission of the New Drug Applications.

For 2015, sales growth measured in local currencies is still expected to be 7-9%, whereas operating profit growth measured in local currencies is raised by 1 percentage point and now expected to be around 20%.

The preliminary outlook for 2016 in local currencies indicates mid to high single-digit growth in sales and mid to high single-digit growth in operating profit adjusted for the non-recurring impact of the partial divestment of NNIT and the income related to the out-licensing of assets for inflammatory disorders, both in 2015.

Lars Rebien Sørensen, president and CEO: "We are satisfied with the results of the first nine months of 2015. Sales growth was primarily driven by Victoza® aided by the high growth of the GLP-1 market. In the third quarter, a significant milestone was achieved with the US FDA approval of Tresiba®, and we look forward to launching Tresiba® early 2016." 

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