Sales of the glucagon-like peptide 1 (GLP-1) drugs for diabetes lifted Novo Nordisk A/S in the first quarter, more than offsetting the slow growth of the company’s insulins. Group sales amounted to DKK 33.9 billion (€4.54 billion) up by 16% in actual exchange rates and by 14% at constant rates. The operating profit was DKK 16.3 billion, up by 14%, giving an operating margin of 48.1%. The wide margin reflected low administrative costs and relatively low R&D spending. While spending on R&D increased by 41% from a year earlier, as a percentage of sales it was a smaller 11.1%.
