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Novo Nordisk Reports 30% Increased Operating Profit


02 November

Denmark's Novo Nordisk has reported an increased operating profit of 30% for the first nine months of 2009. Adjusted for currency differences and non-recurring costs in 2008 related to the discontinuation of all pulmonary delivery projects, underlying operating profit increased by around 15%. Sales in North America, the company reported, increased by 29% (17% in local currencies), and international sales increased by 18% (16% in local currencies). For 2009, growth in operating profit, measured in local currencies, is expected to increase to around 15%. Lars Rebien Sørensen, Novo Nordisk's president and CEO, said: "The robust sales growth for our portfolio of modern insulins is the key driver of the solid business performance in the first nine months of 2009". The launch of Victoza in Europe is progressing well and we are seeing strong in-market penetration in the first-wave launch countries, Germany, the United Kingdom and Denmark."

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