Denmark's Novo Nordisk Reports Sales Growth

Leading insulin producer Novo Nordisk of Denmark has reported net profit of DKK5.01bn (US$859.04mn) for 2004, roughly 4% higher year-on-year. Sales of diabetes therapies grew 11% to DKK20.53bn (US$3.52bn), with insulin analogues sales rising a sharp 77%, compared to a 15% rise in oral diabetes therapies.

Nevertheless, insulin product revenues declined 1% year-on-year to DKK14.38bn (US$2.46bn). The company reported that sales in the segment were driven by its Levemir (insulin detemir) long-acting insulin analogue, which has gained a 9% market share in Europe one year after the product's launch. Beyond the insulin segment, Novo Nordisk's recombinant Factor VIIa NovoSeven, indicated for A and B-type haemophilia, also performed strongly. The company expects overall growth of up to 14% in 2005, forecasting a general expansion in the world insulin market.