COPENHAGEN: Danish pharmaceutical group Novo Nordisk, the world's biggest producer of insulin for diabetes sufferers, on Wednesday topped analyst profit expectations for its first quarter of 2013
From January to March, the group posted a net profit of 5.982 billion Danish kroner (802 million euros), as it enjoyed strong sales of its diabetic drug Victoza and "modern insulins."
Analysts polled by Dow Jones Newswires predicted 5.85 billion kroner in net profit.
Sales figures surged by 12.6 percent to 19.983 billion kroner, which beat the expectation of analysts who predicted 19.76 billion kroner.
"We are pleased with the strong sales in the first quarter of 2013 driven by our portfolio of modern insulins and Victoza," Chief Executive Officer Lars Rebien Sorensen said.
"We have launched Tresiba, the new-generation insulin with an ultra-long duration of action, in a number of countries and are encouraged by the early feedback from patients and doctors," he said.
In February, the company reported that the US Food and Drug Administration (FDA) said "approvals for Tresiba and Ryzodeg cannot be granted" until the company provides additional information.
The FDA requested more cardiovascular data, which Novo Nordisk said it was unlikely to be able to provide this year.
Novo Nordisk said it was engaged in a "constructive dialogue" to meet the needs in the United States, where sales are key.
Novo Nordisk controls around 49 percent of the global insulin market, which has grown rapidly in recent years following a rise in the number of people suffering from diabetes, estimated by the World Health Organisation to stand at around 347 million.
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