DenmarkDenmark

Positive figures despite insulin lag

19.08.2011

Bagsværd – Net profit at Denmark’s Novo Nordisk A/S ballooned in the first six months of 2011, and the firm has raised guidance for the full year results. Sales rose by 9%, from DKK29.1bn to DKK31.7bn, while reported net profit increased by 19% to DKK 8.2bn (2010: DKK6.8bn). The company raised its 2011 sales growth outlook to 9-11% from 8-10%. It says operating profit growth is expected at 15-19%, compared with around 15% previously.
In spite of the positive news, the world’s biggest insulin producer acknowledged it is facing a slowdown in modern insulin sales, which in QII/2011 accounted for 43.6% of total group sales. Novo Nordisk CFO Jesper Brandgaard says he expects modern insulin sales growth to slow quarter by quarter from now on until a new product is launched. Slowing sales and fierce competition in the crucial sector leaves the drugmaker vulnerable to any delay in bringing new products to market. For the Danish firm, hope now rests on the novel ultralong-acting basal insulin analogues Degludec and DegludecPlus. “It is clear that Degludec, if given a strong labelling, could become a blockbuster,” Brandgaard said. He added that the company would be filing a registration application for the substance in the US in the not all-too-distant future.

DenmarkDenmark

15.08.2011

Copenhagen – Driven by strong sales, Danish drugmaker Lundbeck A/S reported hefty QII/2011 profits, and says it is now expecting full-year results at the upper end of its guided range. Operating profit rose to DKK1.1bn in the...

DenmarkDenmark

12.08.2011

Copenhagen - All is well in Denmark - for now. Danish Drugmaker Lundbeck reported excellent profits in the second quarter but announced its intention to prepare for deep cuts in research. 175 jobs in Denmark and the US (12.5% of...

DenmarkDenmark

06.06.2011

Kvistgaard – Bavarian Nordic A/S of Denmark has raised DKK698m (EUR94m)through a rights issue to fund development of its prostate cancer vaccine Prostvac. A total of 12.9 million shares were sold at DKK54. The company announced...

DenmarkDenmark

12.04.2011

Kvistgaard – Net loss at Danish biopharmaceutical company Bavarian Nordic A/S increased to DKK390m from DKK266m in the previous year, even though revenue grew to DKK314m, up from DKK75m in 2009. Bavarian Nordic’s lead product is...

DenmarkDenmark

09.04.2011

Copenhagen – Despite recent setbacks, Danish TopoTarget A/S still has hopes for its histone deacetylase (HDAc) blocker belinostat (PXD01). The cytotoxic compound for treating lymphoma and solid tumours has failed to show...

DenmarkDenmark

16.11.2010

Vedback – Danish biotech company Exiqon A/S has reported data showing a significant shortening of progression-free survival in 130 stage II colon patients expressing high levels of microRNA21 (miR-21) in stromal cells surrounding...

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