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Novo Nordisk

Modern insulins drive growth for NN

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Novo Nordisk 4Q10

4Q Revenues: $2.9 billion (+14%)

4Q Earnings: $720 million (+56%)

FY Revenues: $10.9 billion (+13%)

FY Earnings: $2.6 billion (+27%)

Comments: Diabetes care revenues for FY were $8.1 billion (+16%), while FY Biopharma revenues were up 5% to $2.7 billion. Modern insulins were up 18% for $4.7 billion in revenues during the year. Sales of Victoza, a GLP-1 therapy for type 2 diabetes, posted $413 million in FY revenues. Earnings in 4Q10 and FY were boosted by $200 million from the October 2010 sale of shares in Zymogenetics, Inc.

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