Sales of popular weight loss drug Wegovy more than doubled to 9.38 billion kroner.
The injectable weight-loss medication Wegovy is available at New City Halstead Pharmacy on April 24, 2024 in Chicago, Illinois., which became the most valuable company in Europe last year due to the blockbuster success of its weight loss drugs, on Thursday beat profit estimates for the first quarter.
Net profit rose 28% year-on-year to 25.4 billion Danish kroner , versus analyst expectations of 23.7 billion kroner, according to an LSEG poll.Overall North America sales rose 35%, as the company flagged that Wegovy had been approved in the U.S. in the first quarter for cardiovascular risk reduction in people with obesity.
"We are pleased with the sales growth in the first three months of 2024, driven by increased demand for our GLP-1-based diabetes and obesity treatments," CEO Lars Fruergaard Jørgensen said in a statement. Novo Nordisk raised its outlook for 2024, nudging its sales growth outlook range one percentage point higher, to 19% to 27% at constant exchange rates. It also upped its operating growth forecast to 22% to 30% from a previous forecast of 21% to 29%.
Novo Nordisk A/S Novo Nordisk A/S Earnings Pharmaceuticals Business News
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US Senate committee investigates pricing of Novo's Ozempic and WegovyUS Senate committee investigates pricing of Novo's Ozempic and Wegovy
Read more »
US Senate committee investigates pricing of Novo's Ozempic and WegovyA U.S. Senate committee said on Wednesday it had launched an investigation into the prices of Novo Nordisk's diabetes and weight loss drugs Ozempic and Wegovy in the United States.
Read more »
Obesity drugmaker Novo Nordisk raises outlook, Q1 profit beats forecastObesity drugmaker Novo Nordisk raises outlook, Q1 profit beats forecast
Read more »
FTC challenges 'junk' patents held by 10 drugmakers, including for Novo Nordisk's OzempicThe agency sent letters to Novo Nordisk, AstraZeneca, Boehringer Ingelheim, Covis Pharma, GlaxoSmithKline, Novartis, Teva Pharmaceuticals, among others.
Read more »
FTC challenges ‘junk' patents held by 10 drugmakers, including for Novo Nordisk's OzempicThe agency sent letters to Novo Nordisk, AstraZeneca, Boehringer Ingelheim, Covis Pharma, GlaxoSmithKline, Novartis, Teva Pharmaceuticals, among others.
Read more »
'Much More Needs to Be Done,' Says Sanders as Novo Nordisk Caves on Insulin PriceJulia Conley is a staff writer for Common Dreams.
Read more »