Danish company Novo Nordisk's sales up 9% in Q1

The sales of the Danish pharmaceutical company Novo Nordisk has reached 13.7 billion Danish kroner (2.43 billion U.S.dollars) in the first quarter, 9 percent up from the same period of 2009.

Also, the result of primary operation increased from 3.8 billion U.S. dollars first quarter in 2009 to 4.4 billion U.S. dollars.

"We are pleased with the solid operating results in the first quarter. The primary reasons are because the increasing use of our modern insulin and its operating growth," says Lars Rebien Sorensen, administrative director.

"At the same time, our new drug Victoza for Type 2 diabetes, doing also well both in the U.S. and Europe," said Sorensen, cited by the Danish state television station DR.

Moreover, Novo Nordisk plans to build a new factory in Russia and has estimated 30 percent annual growth rate in the Russian market. The agreement has been signed during the Russian-Danish Business Conference when Russian President Dmitry Medvedev was officially visiting Copenhagen.

The Danish pharmaceutical company Novo Nordisk is the world leading company in the area of diabetes care. The company maintains market share of more than 50 percent in the global insulin market. In 2009, Novo Nordisk was the third largest enterprise in Denmark with earnings of 14 billion Danish kroner (2.5 billion U.S. dollars).

Source:Xinhua