Novo Nordisk posts better than expected Q2 figures  

2009.08.10
The Danish medico giant posts a rosy set of Q2 figures, with operating profit and net profit figures significantly higher than expected
Danish medico giant Novo Nordisk brought some sunshine and cheer to the stock exchange Thursday by announcing Q2 operating profit and net profit figures that exceeded analysts' expectations, reports financial daily newspaper Børsen.
 
Operating profit was DKK 4,090m (USD 789m), a good DKK 200m above the expected figure, while net profit was DKK 2,991m (USD 577m) – more than DKK 360m above what the market was expecting.
 
In the interim report, Novo Nordisk president and CEO Lars Rebien Sørensen commented: "The performance in the first half of 2009 is encouraging and we raise our guidance for underlying operating profit growth. We are very pleased that Victoza [the GLP-1 analogue liraglutide – Ed] is now launched in the United Kingdom, Germany and Denmark and we look forward to making Victoza available to more people with type 2 diabetes."
 
The Novo Nordisk announcement also made mention of a recent phase III trial where Victoza showed superior performance to sitagliptin, an oral treatment for type 2 diabetes available on the US market, and stated that the company was in 'constructive dialogue' with the United States Food and Drug administration (FDA) regarding the regulatory process for liraglutide, with formal feedback expected later in Q3.
 
Link > Novo Nordisk              

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