Danish pharmaceutical company Novo Nordisk revealed Thursday a 5 percent increase in operating profit in the first nine months of 2014.
Operating profit for the first three quarters stands at 25.3 billion Danish kroner, up from 24.1 billion kroner year-on-year, Novo Nordisk said in a statement.
Sales revenue grew 4 percent to 64.2 billion kroner in the first nine months, driven by sales of its modern insulin Levemir and diabetes drug Victoza, the company said.
"We are satisfied with the financial results for the first nine months of 2014," Novo Nordisk CEO Lars Rebien Soerensen said in the statement.
"In the U.S., Levemir continues to perform well, and with the approval of Xultophy in Europe we now look forward to launching this product in the first half of 2015," he added.
Novo Nordisk now expects a 7-9 percent sales rise when measured in local currencies for the full year 2014, against a previous range of 7-10 percent. Around 10 percent annual growth in operating profit has been maintained.
For 2015, Novo Nordisk said its preliminary outlook "indicates high single-digit growth in sales and around 10 percent growth in operating profit, when measured in local currencies."
Novo Nordisk is the world leader in diabetes care and currently holds a global value market share of 27 percent. (1 U.S. dollar = 5.85 Danish kroner)