Danish drug maker Novo Nordisk Q1 net profits up 28 per cent on strong sales of diabetic drugs

COPENHAGEN – Danish pharmaceutical company Novo Nordisk A/S says first-quarter net profit rose 28 per cent on strong sales of its diabetic drugs.

The world’s largest insulin maker said net profit in the first three months of 2013 was 5.9 million kroner ($1 million), up from 4.7 million kroner. Revenue for the period came in at 20 billion kroner ($3.5 billion), up 13 per cent.

Chief Executive Lars Rebien Soerensen said Wednesday he was pleased by the strong insulin sales, and said the company expects to see sales grow between 9 and 11 per cent this year and operating profit rising by around 10 per cent.

The company’s share price was up around 0.2 per cent at 993 kroner in morning trading in Copenhagen.