Business briefs: Novo Nordisk
Novo Nordisk promoted four US execs from corporate VP to SVP in their respective areas: Andy Ajello, US National Diabetes Sales; Camille Lee, US Diabetes Marketing; Alan Moses, MD, global chief medical officer; and Anne Phillips, MD, US clinical, medical and regulatory affairs. Ajello, Lee and Philips will remain on the US Executive Team and report to Jerzy Gruhn, president of Novo Nordisk's US operation. Moses will relocate to the company HQ in Denmark where he'll report to Mads Krogsgaard Thomsen, executive vice president and chief science officer. The promotions were announced alongside the company's 2012 financial statement. Novo Nordisk saw sales growth of 18% year-over-year, which the firm attributed to Victoza, NovoRapid and Levemir, and an increase in operating profit of 32% from 2011. Novo cited the North American market as the greatest contributor to sales growth this year. The company raised sales targets for 2013, with forecast sales growth of 8-11% and operating profit to reach 10%. Their ability to return on those forecasts rests heavily on Tresiba (insulin deguldec), the ultra long-acting rival to Sanofi's Lantus. Tresiba was approved in the EU and Japan and also received a nod from an FDA Advisory Committee last November (with a post-approval outcome trials commitment). Novo expects FDA approval for Tresiba in the first half of 2013.