Novo Nordisk profit gets a boost from diabetes onslaught
The Danish drug maker, the world’s biggest insulin supplier with 46% of the market, has increased its sales forecast
Stockholm — Danish drug maker Novo Nordisk, the world’s leading insulin provider, on Wednesday reported a 6% jump in net profit in the first quarter, as the global onslaught of diabetes continued to grow. The group’s net profit grew to 10.7-billion kroner ($1.72bn) even as its sales decreased by 5% in Danish kroner year-on-year, reflecting a depreciation of the dollar. Novo Nordisk, which holds 46% of the world’s insulin market share, is performing well thanks to a global diabetes scourge. According to the World Health Organisation, the number of people with diabetes has soared from 108-million in 1980 to 422-million in 2014. The global prevalence of diabetes among adults has nearly doubled during that time, to 8.5%. WHO has estimated 1.6-million deaths around the world were directly caused by diabetes in 2015, while another 2.2-million deaths were linked to high blood glucose in 2012. For 2018, Novo Nordisk expects sales to grow by 3%-5% in local currency, compared with 2%-5% as pr...
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