Novo Nordisk increased sales by 11% in the first quarter of 2005
- In local currencies sales in the first quarter of 2005 increased by 13%
o Sales of insulin analogues increased by 67%
o Sales of NovoSeven® increased by 10%
o Sales in North America increased by 27%
- Operating profit increased by 1% to DKK 1,512 million, reflecting a negative impact from the depreciation of the US dollar and the absence of non-recurring income in the first quarter of 2005. Adjusted for the impact from currencies and changes in the level of non-recurring income, underlying operating profit increased by around 15%.
- Net profit increased by 17% to DKK 1,232 million and earnings per share (diluted) increased by 19% to DKK 3.70.
- Operating profit for the full year 2005 is still expected to grow by around 5%.
- In January 2005, Novo Nordisk filed an application for European marketing approval for the use of NovoSeven® in blunt trauma based on clinical phase 2 data. Novo Nordisk has now received preliminary information that additional clinical data may be needed. Novo Nordisk is in consultation with EMEA (The European Medicines Agency) about these issues and expects a conclusion in the second half of this year. To further support the filing Novo Nordisk has decided to initiate a confirmatory clinical trial.
- Lars Rebien Sørensen, president & CEO, said: "The solid business performance during the first three months, driven by sales of insulin analogues and NovoSeven®, confirms our positive expectations for 2005. We remain confident about the therapeutic benefits and the market potential of NovoSeven® despite a more challenging regulatory environment."
Stock Exchange Announcement No 15 / 2005
