The world's biggest insulin maker, Novo Nordisk, announced an 18.0-percent rise in full-year net profit on Thursday, but said sales growth would slow in 2014 amid challenging US market conditions.
"We are pleased with Novo Nordisk's financial performance in 2013, a year which also posed challenges for us," chief executive Lars Rebien Soerensen said in a statement.
The group, which posted a record net profit of 28.18 billion kroner (3.375 billion euros, $5.141 billion), said that sales growth would also suffer from currency headwinds.
The US Food and Drug Administration (FDA) said in February that approval for Novo Nordisk's new, long-acting insulin, Tresiba, could not be granted until the company provided more cardiovascular data.
The decision "was a disappointment, but in markets where we have launched the product, performance has been encouraging," Soerensen said.
In 2013, the Danish company also lost two major supply contracts in the United States.
Sales rose by 7.0 percent from the figure last year to 83.57 billion kroner, but the company said it expected the growth rate to fall by half in 2014.
Fourth-quarter sales grew by four percent to 21.70 billion kroner, while net profit in the period reached 6.05 billion kroner, which was below an analyst consensus compiled by Dow Jones Newswires.
Novo Nordisk has 48 percent of the global insulin market, which has grown rapidly in recent years following a rise in the number of people suffering from diabetes.
Its products helped treat 24.3 million patients last year, compared with 22.8 million in 2012.
The group also manufactures and markets hemophilia drugs, and hormone growth and replacement products.
The world’s biggest insulin maker, Novo Nordisk, announced an 18.0-percent rise in full-year net profit on Thursday, but said sales growth would slow in 2014 amid challenging US market conditions.
“We are pleased with Novo Nordisk’s financial performance in 2013, a year which also posed challenges for us,” chief executive Lars Rebien Soerensen said in a statement.
The group, which posted a record net profit of 28.18 billion kroner (3.375 billion euros, $5.141 billion), said that sales growth would also suffer from currency headwinds.
The US Food and Drug Administration (FDA) said in February that approval for Novo Nordisk’s new, long-acting insulin, Tresiba, could not be granted until the company provided more cardiovascular data.
The decision “was a disappointment, but in markets where we have launched the product, performance has been encouraging,” Soerensen said.
In 2013, the Danish company also lost two major supply contracts in the United States.
Sales rose by 7.0 percent from the figure last year to 83.57 billion kroner, but the company said it expected the growth rate to fall by half in 2014.
Fourth-quarter sales grew by four percent to 21.70 billion kroner, while net profit in the period reached 6.05 billion kroner, which was below an analyst consensus compiled by Dow Jones Newswires.
Novo Nordisk has 48 percent of the global insulin market, which has grown rapidly in recent years following a rise in the number of people suffering from diabetes.
Its products helped treat 24.3 million patients last year, compared with 22.8 million in 2012.
The group also manufactures and markets hemophilia drugs, and hormone growth and replacement products.
