Novo Nordisk May Perform Stock Split - Chief Financial Officer

Date : 02/02/2012 @ 6:54AM
Source : Dow Jones News
Stock : Novo Nordisk A/S (NVO)
Quote : 42.95  -0.6 (-1.38%) @ 2:32PM

Novo Nordisk May Perform Stock Split - Chief Financial Officer

Novo Nordisk A S (NYSE:NVO)
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Danish pharmaceutical company Novo Nordisk A/S (NOVO-B.KO) may perform a stock split in the next couple of years, the company's chief financial officer Jesper Brandgaard said Thursday.

"We have done several stock splits over the years, when the price has risen to levels that we found too high. With a price of more than $100, it is something we will consider again," Brandgaard said, speaking after the company released its fourth-quarter results.

Novo Nordisk, the world's largest maker of insulin, earlier Thursday reported that its net profit rose 19% on the year in the fourth quarter, to 4.69 billion Danish kroner ($829 million).

The result was better than expected, helped by strong growth in sales of its GLP-1 diabetes drug Victoza and ultra-long acting insulin Levemir.

-By Flemming Emil Hansen and Niclas Rolander, Dow Jones Newswires; +46-8-5451-3102; niclas.rolander@dowjones.com

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