Novo Nordisk reports solid Q1 sales growth

Danish biopharmaceuticals and diabetes care specialist Novo Nordisk increased sales by 18% to Euro 1.7bn in the first quarter of 2009, led by modern insulins and NovoSeven. Sales in North America increased by 31%, followed by Japan & Oceania (25%) and International (20%), with Europe trailing at 3% growth. Operating profit rose by 35% to €512m.

In Europe, the Committee for Medicinal Products for Human Use (CHMP) under the European Medicines Agency (EMEA) adopted a positive opinion for Victoza (liraglutide) the first once-daily human glucagon-like peptide-1 analogue developed for the treatment of type 2 diabetes.

In the US, following an Advisory Committee meeting last month, Novo Nordisk is working with the US FDA as it completes the review of the liraglutide application.

For the full year, both operating profit and sales are expected to grow by at least 10%.

Lars Rebien Sorensen, president and chief executive of Novo Nordisk, 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."