Novo issues bullish sales forecast

Share this article:
Danish diabetes giant Novo Nordisk said it expects to more than double its revenue within the decade, as the surging incidence of diabetes expands demand for its products.

As deputy chief executive Kaare Schultz told Reuters, “Today we handle more than 20 million patients. In 10 years, hopefully [we] will treat about 40 million patients,” adding, “We expect to continue to increase [revenue] by around 10% per year over the next 10 to 20 years.”

Sales could rise faster, Schultz told the news service, if Novo gets approval in the US for basal insulin Tresiba and for liraglutide for treating obesity.

The company's revenue rose 23% in the US last year to $7.9 billion, and surged 13% globally to $15.5 billion. So far, 2014 is off to a slow start, however: first-quarter sales rose only 7% after the drugmaker lost two contracts to supply a US pharmacy group.

Share this article:
close

Next Article in Business Briefs

Email Newsletters

More in Business Briefs

Imbruvica lassoes CLL indication

The FDA slapped a Breakthrough Therapy label on the CLL indication pursuit in February.

FDA asks social media "how'm I doin?"

The FDA's Center for Drug Evaluation and Research's Office of Communications wants a system that will help assess its messaging reach across the interwebs and its many forums.

Reckitt Benckiser wants out of pharma

The company plans to spin off its pharmaceutical unit.