Novo Nordisk A/S Faces Slow Growth In Newer Insulin Sales

Danish drugmaker Novo Nordisk (NOVOb.CO) faces slowing growth and fierce competition in the crucial modern insulins market that leaves it vulnerable to any delay in bringing new products to market. The world's biggest insulin producer raised full-year guidance following a rise in sales of modern insulins and diabetes treatment Victoza, but acknowledged that it faces a slowdown of modern insulin sales, which in the second quarter accounted for 43.6 percent of total group sales. Novo Nordisk said it now expects full-year sales in local currencies to rise by 9 percent to 11 percent, up from an earlier forecast of 8-10 percent, and operating profits to rise 15-19 percent, up from an earlier forecast of around 15 percent.