New insulin product reflects well on Novo Nordisk financial results

Turnover is up 5 percent over the first six months of 2016

Thanks in part to its new insulin product Tresiba, the Danish biotech giant Novo Nordisk has unveiled solid half-year financial results.

The company’s turnover increased by 5 percent to 54.7 billion kroner and Tresiba had a lot to do with that success, with sales rising by 161 percent.

“Overall, we are satisfied with the performance in the first six months of 2016 in which Victoza and Tresiba continued to deliver strong sales growth and region China improved faster than expected,” said Lars Rebien Sørensen, the CEO of Novo Nordisk.

“In the USA, the market environment is becoming increasingly challenging and contract negotiations for 2017 have reflected an intensifying price competition. In spite of this, we see significant growth opportunities based on our strong diabetes care portfolio.”

READ MORE: Novo Nordisk Foundation ready to centralise diabetes treatment in Denmark

Profit up 7 percent
Overall, the firm sold diabetes medicine for 42.8 billion kroner, while the sale of other products, such as growth hormones and medication against blood disorders accounted for 11.8 billion kroner.

The net profit increased by 7 percent to 19.4 billion kroner.

TOP STORIES

  • Danish Intelligence Service: Threat from Russia has intensified

    Danish Intelligence Service: Threat from Russia has intensified

    In the internal Danish waters, Russia will be able to attack underwater infrastructure from all types of vessels. The target could be cables with data, electricity and gas, assesses the Danish Defense Intelligence Service

  • Denmark to explore screening citizenship applicants for anti-democratic sentiments

    Denmark to explore screening citizenship applicants for anti-democratic sentiments

    A few weeks after Alex Vanopslagh’s comments about “right values,” the government announced that an expert committee would be established to examine the feasibility of screening citizenship applicants for anti-democratic attitudes.

  • The Future Copenhagen

    The Future Copenhagen

    The municipality plan encompasses building 40,000 houses by 2036 in order to help drive real estate prices down. But this is not the only huge project that will change the shape of the city: Lynetteholmen, M5 metro line, the Eastern Ring Road, and Jernbanebyen will transform Copenhagen into something different from what we know today

  • It’s not you: winter depression is affecting many people

    It’s not you: winter depression is affecting many people

    Many people in Denmark are facing hard times marked by sadness, anxiety, and apathy. It’s called winter depression, and it’s a widespread phenomenon during the cold months in Nordic countries.

  • Crime rates are rising, but people are safer

    Crime rates are rising, but people are safer

    Crime in Denmark is increasing for the second consecutive year, but it is more focused on property, while people appear to be safer than before. Over the past year, there were fewer incidents of violence

  • Novo Nordisk invests 8.5 billion DKK in new Odense facility

    Novo Nordisk invests 8.5 billion DKK in new Odense facility

    Despite Novo’s announcement that its growth abroad will be larger than in Denmark, the company announced this morning an 8.5 billion DKK investment for a new facility in Odense. This is the first time the company has established a new production site in Denmark this century.

Connect club

Connect Club is your gateway to a vibrant programme of events and an international community in Denmark.

Sign up here

Career

Want to advertise your job with CPH Post?

Contact us

Jobs