Novo Nordisk reveals significant increase in operating profit last year

NEW YORK Danish drug maker Novo Nordisk reported Friday that it increased its operating profit by 38% last year thanks to gross margin improvement and sales of modern insulins.

Sales of modern insulins increased by 28%, while sales of NovoSeven and Norditropin increased by 14% and 12%, respectively. Overall sales in North America increased by 18%, while international sales increased by 21%.

Meanwhile, gross margin improved by 1.7%, to 77.8%, primarily reflecting continued productivity improvements and a currency exchange rate effect of about 0.5%.