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  • Danish pharma giant Novo Nordisk, the world's leading insulin maker, said Friday that its bottom-line profits rose in the third quarter, even as the coronavirus pandemic weighed on the number of patients starting treatment. For the period from June to September, Novo Nordisk said it booked net profit of 10.29 billion Danish kroner ($1.61 billion, 1.38 billion euros), up one percent from a year earlier. Revenue grew two percent to 30.92 billion kroner, the company said in a statement, noting that the pandemic negatively impacted growth "as fewer patients initiated treatment." Earlier this month, the company had upgraded its forecast for 2020 on the back of a "continued robust sales performance." Novo Nordisk commands 47 percent of the world's insulin market. And according to the International Diabetes Federation, there are roughly 463 million adults with diabetes, a number that is expected to rise to 700 million by 2045. cbw/jll/spm
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  • Novo Nordisk books higher profit in spite of pandemic
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