Danish pharmaceutical company Novo Nordisk on Thursday maintained its full year growth expectations for 2014 after a rise in operating profits during the first half of the year.
Operating profits stood at 16.8 billion Danish kroner (3 billion U.S. dollars) in the first half of 2014, up 4 percent compared to the same period last year, the company said in a statement.
Net profits rose 6 percent year-on-year to 13.5 billion kroner, while sales revenue grew 1 percent to 42 billion kroner in the first six months. This growth was driven by sales of its flagship diabetes drug Victoza and modern insulin Levemir.
"We are satisfied with the financial results achieved in a challenging first half of 2014,” Novo Nordisk CEO Lars Rebien Soerensen said in the statement.
Novo Nordisk maintained its outlook for 2014 with sales growth at 7 to 10 percent and operating profits at around 10 percent when measured in local currency.
The North America region contributed 61 percent of the company's overall sales growth followed by its international operations and China. (1 U.S. dollar = 5.55 Danish kroner)