Novo Nordisk has increased operating profits by 12% in the first nine months of the year after sales growth rose due to the performance of Victoza (pictured), NovoRapid and Levemir.

Sales of modern insulins increased by 11% after Victoza sales nearly DKK 3.9 billion which resulted in net profit jumping nearly a fifth (19%) to DDK 12.4 billion.

Lars Rebien Sørensen, President and CEO, says Novo is “pleased” to see its key products “drive strong underlying sales growth”.

The Danish-based company has now updated its outlook for the year and expect sales growth to be between 10%-11% and operating profits growth be in the region of 17%-19%.

In North America sales increased by 17% and in other International Operations by 16%. Gross margin improved by 0.2% which Novo says reflects a favourable product mix development due to an increase in sales of modern insulin versus lower human insulin sales.

Regulatory dossiers for the company’s new generation of insulins, Degludec and DegludecPlus, were also submitted to the European and US authorities in September. “The filing of our new-generation insulins, ultra-long-acting Degludec and DegludecPlus, in the US and Europe is a major milestone in the expansion of our leadership in diabetes care."

Novo has now adjusted its preliminary outlook for next year which indicates a high single-digit sales growth and an operating profit increase near 10%.

The company increased its operating profit by nearly a third in 2010.

Novo Nordisk will streamline its Danish administrative functions after releasing plans for two new offices to house senior management and other shared facilities.

The buildings in Bagsværd, Denmark, will cost approximately a billion Danish kroner (€134m) and will be completed by the end of 2013.

Lars Rebien Sørensen, President and CEO, says the offices will give staff the “best conditions for interacting across functional divides and with our colleagues abroad”.

Approximately 14,000 of the company’s 32,000 strong workforce are employed in Denmark – although the exact number of job losses has not been disclosed.

The offices have been inspired by the insulin molecule. They will feature low energy consumption with the aid of sensors, light and ventilation, and will meet the 2015 energy requirements for new builds.

“Although Novo Nordisk is primarily set to grow outside of Denmark in the coming years, we are looking forward to consolidating the administrative functions in Bagsværd, where we have been present since the 1950s,” said Mr Sørensen.

Novo Nordisk increased its operating profit by nearly a third last year.

Sales of Victoza, NovoRapid and Levemir resulted in an operating profit increase of 27% and a net profit rise of 34%.

Lars Rebien Sørensen, President and CEO, described 2010 as a “very good year” for the Danish company.

Novo Nordisk also reached its four long-term financial targets in 2010 as announced in their annual report for 2008.

Sales of modern insulins increased by 24%, as did sales in international operations. For 2011, Novo Nordisk now calculates sales growth measured in local currencies to be between 8% and 10%, and operating profit growth measured in local currencies is expected to be around 15%.

“We expect continued sales growth from these products and are encouraged by the results from the phase 3 programme with our new generation insulins,” said Mr Sørensen.