Insulin gives Denmark's Novo Nordisk a Q1 boost

(AP)—Danish pharmaceutical company Novo Nordisk A/S says first-quarter net profit rose 28 percent on strong sales of its diabetic drugs.

The world's largest insulin maker said net profit in the first three months of 2013 was 5.9 million kroner ($1 million), up from 4.7 million kroner. Revenue for the period came in at 20 billion kroner ($3.5 billion), up 13 percent.

Chief Executive Lars Rebien Soerensen said Wednesday he was pleased by the strong insulin sales, and said the company expects to see sales grow between 9 and 11 percent this year and operating profit rising by around 10 percent.

The company's share price was up around 0.2 percent at 993 kroner in morning trading in Copenhagen.

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