- Sales in local currencies increased by 15% compared to the first nine months of 2002. Measured in Danish kroner sales increased by 5% to DKK 19,333 million. The performance in local currencies per therapy area was as follows:
- Diabetes care sales increased by 15%.
- Haemostasis management (NovoSeven®) sales increased by 25%.
- Growth hormone therapy sales increased by 14%.
- Hormone replacement therapy sales decreased by 3%.
- Operating profit measured in Danish kroner increased by 5% to DKK 4,575 million in the first nine months of 2003.
- Net profit increased by 20% to DKK 3,507 million reflecting the growth in operating profit and significant currency hedging gains in the first nine months of 2003 providing a net financial income of DKK 739 million. Earnings per share grew by 21% to DKK 10.18.
- Operating profit for 2003 is now expected to grow by around 5% compared to previous expectations of growth at a low single-digit percentage rate. Expectations are raised as non-recurring income will be DKK 150 million higher than previously anticipated primarily related to an accounting effect of ZymoGenetics' public offering of new shares in October 2003.
- As a consequence of the higher expectations for operating profit growth and unchanged expectations for net financial income of DKK 900 million, net profit for 2003 is now expected to grow by around 15%.
- Lars Rebien Sørensen, president & CEO, said, "The strong underlying performance continued in the third quarter reflecting solid market penetration of our portfolio of insulin analogues and of NovoSeven®."
Financial statement for the first nine months of 2003
| Source: Novo Nordisk A/S
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