This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

28 Oct 2010

Victoza boosts Novo as Elan, Biogen profits drop

Novo Nordisk,with an increase in both profits and sales,the Danish diabetes specialist even raised its outlook for the year.

Another mixed slate of pharma earnings today. Novo Nordisk's results shine, with an increase in both profits and sales; the Danish diabetes specialist even raised its outlook for the year. But Elan and Biogen Idec both posted profit declines, and while Mylan reported positive earnings, its sales failed to meet analyst expectations. Here are the details.

Novo touted strong sales of its new diabetes treatment Victoza as one driver of its 3.59 billion kroner ($665.7 million) in profits. Overall, sales grew 25 percent to 15.58 billion kroner. The company boosted its 2010 outlook, too. But Novo warned that 2011 could be a tough year, because of new generic competition for its oral diabetes drugs and new healthcare reforms.

Elan's multiple sclerosis drug Tysabri's sales grew by 13 percent in the third quarter, but total revenue dropped by 2 percent to $281.4 million, slightly lower than analysts' estimates. The Irish drugmaker managed to grow adjusted earnings by 61 perce

Related News