Print Edition - 2018-05-03  |  Money Digest

Drugmaker Novo Nordisk profits jump 6 percent


May 3, 2018-

Danish drugmaker Novo Nordisk, the world’s leading insulin provider, on Wednesday reported a six percent jump in net profit in the first quarter, as the global onslaught of diabetes continued to grow. The group saw its net profit grow to 10.7 billion kroner (1.44 billion euros, $1.72 billion) even as its sales decreased by five percent in Danish kroner year-on-year, reflecting a depreciation of the US dollar. Novo Nordisk, which holds 46 percent 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 percent. (AFP)

Published: 03-05-2018 08:16

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