Novo H1 sales increase by 19 percent in U.S.

PRINCETON, N.J. Novo Nordisk announced its first-half results for 2008 and announced that its sales increased by 13 percent in countries where it conducts business. Sales in North America increased by 19 percent for the period of Jan. 1 to June 30.

Operating profit increased by 11 percent to $1.164 billion, but that its net profit decreased by 13 percent to $954 million. The decrease is due to the one time gain of $300 million that Novo received when it sold its stake in the cancer diagnostics company Dako.

The company also announced that its operating profit will rise as much as 25 percent and forecasted sales growth of 11 to 13 percent in the countries where it does business.