This excerpt taken from the NVO 6-K filed Oct 28, 2005.
Oral antidiabetic products
Sales of oral antidiabetic products increased compared to the same period in 2004 by 2% in local currencies and 1% in Danish kroner to DKK 1,254 million. The development in sales compared to the same period last year was positive both in Europe and International Operations. This was partly offset by lower sales in the US market, reflecting a slightly lower market share for Prandin®.
This excerpt taken from the NVO 6-K filed Feb 22, 2005.
Oral antidiabetic products
Sales of oral antidiabetic products increased in all regions and in total by 21% measured in local currencies and 15% measured in Danish kroner to DKK 1,643 million, with growth primarily driven by North America but also by International Operations.
The sales growth of NovoSeven® was driven by several factors in 2004. Due to the high penetration within spontaneous bleeds in congenital inhibitor patients, the predominant part of the growth within the inhibitor segment has been generated by treatment of acquired haemophilia patients and usage of NovoSeven® in connection with elective surgery. Furthermore, the marketing approval in Europe in the first quarter of 2004 of NovoSeven® for the control of bleeding in patients with factor VII deficiency and Glanzmanns thrombasthenia added to growth. Treatment of spontaneous bleeds for congenital inhibitor patients remains the largest area of use. In addition, sales are perceived to have been positively affected by increased investigational use of NovoSeven® influenced by data from clinical trials from the NovoSeven® expansion programme.
Growth hormone therapy
(Norditropin® and Norditropin® SimpleXx®)
by Europe and North America.
The prefilled delivery device NordiFlex® was launched in Japan
and selected European countries during 2004 as well as in the US market in January
The sales growth in 2004 was positively impacted by the change in July 2003 of the US distribution set-up for Novo Nordisks HRT products and by the continued market penetration of the low-dose continuous-combined product Activella® and the topical oestrogen product Vagifem®. However, global sales in 2004 were negatively impacted by the overall contraction of the HRT market.
Costs, licence fees and other operating income
The cost of goods sold
increased by 9% to DKK 8,050 million, representing a gross margin of 72.3%,
an increase from 71.7% in 2003. Gains from an improved product mix as well as
productivity increases, totalling slightly above 1 percentage point, were only
partially offset by a negative currency impact.
Net financials and tax
Net financials showed a net income of DKK 477 million in 2004 compared to DKK 954 million in 2003, reflecting a lower level of hedging income in 2004. The foreign exchange hedging gains, primarily related to the hedging of the US dollar, were DKK 663 million compared to DKK 1,195 million in 2003. Foreign exchange hedging gains in the fourth quarter of 2004 were positively impacted by un-