BAGSVAERD, Denmark, April 28 /PRNewswire-FirstCall/ -- Novo Nordisk A/S today announced its financial statement for the period January 1, 2006 to March 31, 2006.
-- Sales increased by 23%, positively impacted by the development in foreign currencies (sales growth in local currencies of 18%) -- Sales of insulin analogs increased by 60% -- Sales of NovoSeven(R) increased by 16% -- Sales in North America increased by 32% -- Sales in International Operations increased by 56% -- Operating profit increased by 24% to USD 303 million. Adjusted for the impact from currencies, underlying operating profit increased by around 12%. -- Net profit decreased by 2% to USD 195 million. Adjusted for non- recurring gains in the first quarter of 2005, net profit increased by more than 15%. Earnings per share (diluted) increased by 1% to USD 0.60. -- Novo Nordisk expects to report Danish kroner sales growth in 2006 of 11-13%, while operating profit is still expected to grow by slightly more than 10%. -- The phase 3 program for liraglutide, the once-daily human GLP-1 analog, including around 3,800 type 2 diabetes patients was initiated in February 2006.
Lars Rebien Sorensen, president and CEO, said: "Novo Nordisk had a strong first quarter of 2006 with continuing sales growth globally. We expect 11-13% sales growth for the full year supported by the recent launch of Levemir(R) in the US, where Novo Nordisk is now the only company with a full portfolio of insulin analogs."
* For convenience, Danish kroner has been translated to USD in this release, using the average exchange rate of USD 1.00 = DKK 6.20841
The complete Novo Nordisk earnings announcement can be found at http://www.novonordisk.com.
Novo Nordisk is a healthcare company with an 80-year history of innovation and achievement in diabetes care. In addition to diabetes care, Novo Nordisk has a leading position within areas such as hemostasis management, growth hormone therapy, and hormone therapy for women. Novo Nordisk's business is driven by the Triple Bottom Line: a commitment to economic success,
environmental soundness, and social responsibility to employees and customers. With headquarters in Denmark, Novo Nordisk employs approximately 22,000 full-time employees in 79 countries, and markets its products in 179 countries. Novo Nordisk's B shares are listed on the stock exchanges in Copenhagen and London. Its ADRs are listed on the New York Stock Exchange under the symbol "NVO." For global information, visit http://www.novonordisk.com; for United States information, visit http://www.novonordisk-us.com.
Novo Nordisk A/SCONTACT: Media: Susan Jackson, +1-609-919-7776, or Investors: MadsVeggerby Lausten, +1-609-919-7937, both of Novo Nordisk
