Novo Nordisk increased sales by 18% in the first quarter of 2009Operating profit increased by 35% supported by continued gross margin improvement
Sales in Danish kroner increased by 18% and by 11% in local currencies.
o Sales of modern insulins increased by 31% (25% in local currencies).
o Sales of NovoSeven® increased by 25% (18% in local currencies).
o Sales of Norditropin® increased by 18% (9% in local currencies).
o Sales in North America increased by 31% (16% in local currencies).
o Sales in International Operations increased by 20% (16% in local currencies).
Gross margin improved by 2.6 percentage points to 79.9% in the first three months of 2009, primarily reflecting continued productivity improvements and a positive currency impact of around 1.0 percentage points.
Reported operating profit increased by 35% to DKK 3,810 million. Adjusted for the impact from currencies and non-recurring costs in 2008 related to the discontinuation of all pulmonary delivery projects, underlying operating profit increased by around 15%.
Net profit increased by 24% to DKK 2,699 million. Earnings per share (diluted) increased by 27% to DKK 4.41.
In Europe, the Committee for Medicinal Products for Human Use (CHMP) under the European Medicines Agency (EMEA) adopted a positive opinion for Victoza® (liraglutide) and Novo Nordisk expects to receive the European Marketing Authorisation from the European Commission within approximately two months.
In the US, following the Advisory Committee meeting on 2 April, Novo Nordisk is working with the United States Food and Drug Administration (FDA) as it completes the review of the liraglutide application.
For 2009, operating profit measured in local currencies is now expected to grow by at least 10% and reported operating profit growth to be around 8 percentage points higher.
Lars Rebien Sørensen, president and CEO, said: "We are satisfied with the financial performance during the first quarter of 2009 which is driven by solid sales growth for the modern insulins and gross margin improvements. Following the positive opinion in Europe for Victoza®, we now look forward to launching Victoza® in the first European markets this summer."
Sales in Danish kroner increased by 18% and by 11% in local currencies.
o Sales of modern insulins increased by 31% (25% in local currencies).
o Sales of NovoSeven® increased by 25% (18% in local currencies).
o Sales of Norditropin® increased by 18% (9% in local currencies).
o Sales in North America increased by 31% (16% in local currencies).
o Sales in International Operations increased by 20% (16% in local currencies).
Gross margin improved by 2.6 percentage points to 79.9% in the first three months of 2009, primarily reflecting continued productivity improvements and a positive currency impact of around 1.0 percentage points.
Reported operating profit increased by 35% to DKK 3,810 million. Adjusted for the impact from currencies and non-recurring costs in 2008 related to the discontinuation of all pulmonary delivery projects, underlying operating profit increased by around 15%.
Net profit increased by 24% to DKK 2,699 million. Earnings per share (diluted) increased by 27% to DKK 4.41.
In Europe, the Committee for Medicinal Products for Human Use (CHMP) under the European Medicines Agency (EMEA) adopted a positive opinion for Victoza® (liraglutide) and Novo Nordisk expects to receive the European Marketing Authorisation from the European Commission within approximately two months.
In the US, following the Advisory Committee meeting on 2 April, Novo Nordisk is working with the United States Food and Drug Administration (FDA) as it completes the review of the liraglutide application.
For 2009, operating profit measured in local currencies is now expected to grow by at least 10% and reported operating profit growth to be around 8 percentage points higher.
Lars Rebien Sørensen, president and CEO, said: "We are satisfied with the financial performance during the first quarter of 2009 which is driven by solid sales growth for the modern insulins and gross margin improvements. Following the positive opinion in Europe for Victoza®, we now look forward to launching Victoza® in the first European markets this summer."
Conference call with executive management on 30 April 2009 at 1 pm CET (12 noon UK time).
webcast her:
http://www.shareholder.com/NVO/MediaRegister.cfm?MediaID=36494
webcast her:
http://www.shareholder.com/NVO/MediaRegister.cfm?MediaID=36494
30/4 2009 15:02 Hya 0
9566 .$NVO CFO told me on CNBC's "Worldwide Exchange" that FDA approval of 1-a-day Victoza 4 diabetes "will be more cumbersome than we envisaged."
$NVO CFO still confident in FDA approval of Victoza, which faces thyroid tumor side-effect concerns. Situation has implications 4 $LLY $AMLN
fra mike huckman på twitter
$NVO CFO still confident in FDA approval of Victoza, which faces thyroid tumor side-effect concerns. Situation has implications 4 $LLY $AMLN
fra mike huckman på twitter
Dårligste Conference Call jeg nogensinde har hørt.....Rebien lyder som en stewardesse og den næste gut skal man være læge for at forstå det.
So booooring.... no no no det er faneme umenneskeligt kedeligt Jeg har aldrig hørt så meget om valutaimpacts.....kom så med de spørgsmål og svar.....
10 mia i frit cash flow....det er nice.....
Men jeg vælger at sælge....og har gjort det i 273
So booooring.... no no no det er faneme umenneskeligt kedeligt Jeg har aldrig hørt så meget om valutaimpacts.....kom så med de spørgsmål og svar.....
10 mia i frit cash flow....det er nice.....
Men jeg vælger at sælge....og har gjort det i 273
