Novo Nordisk increased operating profit in local currencies by 13% in 2014
Friday, January 30, 2015 1:31:23 AM ET
Sales growth of 8% in local currencies driven by growth in sales of
Levemir(R) and Victoza(R)
Sales increased by 8% in local currencies and by 6% in Danish kroner to 88.8 billion.
- Sales of modern and new-generation insulin increased by 12% (10% in Danish kroner).
- Sales of Victoza(R) increased by 16% (15% in Danish kroner).
- Sales in North America increased by 11% (11% in Danish kroner).
- Sales in International Operations increased by 14% (4% in Danish kroner).
- Sales in Region China increased by 13% (13% in Danish kroner).
Gross margin improved by 0.5 percentage point in Danish kroner to 83.6% driven by a favourable price development and a positive impact from product mix.
Operating profit increased by 13% in local currencies and by 10% in Danish kroner to DKK 34.5 billion.
Net profit increased by 5% to DKK 26.5 billion. Diluted earnings per share increased by 8% to DKK 10.07.
The roll-out of Tresiba(R) continues. In Japan, Tresiba(R) has now captured 26% of the basal insulin market measured in monthly value market share since its launch in March 2013.
In December 2014, the US Food and Drug Administration (FDA) approved Saxenda(R) (liraglutide 3 mg), the first once-daily human glucagon-like peptide-1 (GLP-1) analogue for the treatment of obesity.
For 2015, sales growth is expected to be 6-9% and operating profit growth is expected at around 10%, both measured in local currencies. Reflecting the appreciation of key invoicing currencies and the related currency hedging effects, operating profit as reported is expected to grow by around 29%, whereas pre-tax profit is expected to grow approximately 16%.
At the Annual General Meeting on 19 March 2015, the Board of Directors will propose an 11% increase in dividend to DKK 5.00 per share of DKK 0.20. The Board of Directors has furthermore decided to initiate a new 12-months share repurchase programme of up to DKK 15 billion.
Lars Rebien Sorensen, president and CEO: "We are pleased with Novo Nordisks financial performance in 2014; a more challenging year than usual. Levemir(R) and Victoza(R) drove most of our sales growth, and our new long-acting insulin Tresiba(R) continues to perform well. 2015 will be an important year for us with the first launches of Saxenda(R) and Xultophy(R) as well as significant results from our late-stage development portfolio."
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Company announcement No 7 / 2015
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Source: Novo Nordisk A/S via Globenewswire
Company announcement No 7 / 2015 - http://hugin.info/2013/R/1890523/669362.pdf