Danish Big pharma company Novo Nordisk (OMX: NOVO B, NYSE: NVO) delivered a strong set of numbers. Q2 sales were 16 billion DKK and operating profit 5.265 billion. Operating margin was down slightly towards Q1 but financial items pushed net profit to slightly higher at 4.134 billion.
Sales growth was spurred by (GLP-1) analog Victoza® [Liraglutide (NN2211)], and the insulin analogues (insulin detemir )NovoRapid® and (insulin aspart) Levemir®. Victoza sales grew by 253% to 2.348 billion DKK for the first six months of the year.
Novo has started several new phase 3 programs. The outlook for 2011 was raised. Sales growth is now expected to be 9-11% (8-10%) and operating profit to be 15-19% (~15%). The stock is up around 2%. Full report is here.
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