Novo Nordisk reveals substantial leap in profits for the first half year  

The Danish medico concern raises its full year profit expectations, as sales increase across its key therapy areas

Danish medico concern Novo Nordisk's financial statement for the first half year shows net profits increased by 23% to DKK 2,377 million, reflecting growth in operating profit and significant currency hedging gains providing an increased net financial income of DKK 662 million. Sales increases were seen in diabetes care (17%), Haemostasis management (28%), growth hormone therapy (19%) and hormone replacement therapy (14%).


Novo Nordisk's net profit for 2003 is now expected to grow by more than 10%; the company still expects operating profit for the full year to grow by a single-digit percentage rate, while income from currency hedging is expected to increase net financial income from DKK 700 million to DKK 900 million. Company president and CEO Lars Rebien Sørensen commented "A continued solid underlying performance in the second quarter – especially in North America – enables us to reiterate our expectations to operating profit growth, despite a continued challenging currency environment." The news is reported on Novo Nordisk's website.


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