Novo reports stronger-than-expected Q2, raises full-year forecast
- Novo Nordisk reported strong Q2 earnings based on the strength of strong diabetes drug sales.
- Net profit for the quarter was $1.22 billion.
- Based on the strength of sales for the first half of the year, Novo has raised its net earnings forecast by 19%.
Novo is not only having a good quarter, but so far 2015 has been spectacular. Most of the growth is from diabetes-related drugs and devices.
For the second quarter of 2015, sales of the GP-1 inhibitor, Victoza (liraglutide) rose from $562 million in Q2 2014, to $664 million. In addition, sales across all categories of insulin products, including new-generation insulin, modern insulin (insulin analogues) and human insulin were up, with the overall category grossing $3.149 billion, up from $3.134 billion in Q2 2014.
In terms of geographic sales growth, the strongest performing region was Noth America, while growth in China lagged.
- Yahoo Finance Edited Transcript of NOVO B.CO earnings conference call