Biotech
Friday, October 13th, 2023 3:49 pm EDT
Key Points
- Novo Nordisk, a Danish pharmaceutical company, has raised its full-year sales and operating profit outlook due to the high demand for its weight loss drug Wegovy and diabetes treatment Ozempic.
- The company now expects 2023 sales growth in local currencies of 32% to 38%, up from a previous outlook of 27% to 33%, and operating profit growth of 40% to 46%, up from 31% to 37%.
- The heightened sales outlook primarily results from increased expectations for Ozempic sales in the U.S. and “gross-to-net sales adjustments for Ozempic and Wegovy in the U.S.” This news has propelled Novo Nordisk to become Europe’s most valuable company, and the company’s U.S.-listed shares reached a new 52-week high.
Novo Nordisk, the Danish pharmaceutical company, has raised its full-year sales and operating profit outlook due to surging demand for its weight loss drug Wegovy and diabetes treatment Ozempic. The company now expects 2023 sales growth in local currencies of 32% to 38%, up from the previous outlook of 27% to 33%, and operating profit growth of 40% to 46%, up from 31% to 37%. The heightened outlook is primarily attributed to higher expectations for Ozempic sales in the U.S. and “gross-to-net sales adjustments for Ozempic and Wegovy in the U.S.” Novo Nordisk’s shares rose about 1% and reached a new 52-week high following the announcement. These drugs have made Novo Nordisk the most valuable company in Europe.
For the full original article on CNBC, please click here: https://www.cnbc.com/2023/10/13/novo-nordisk-hikes-outlook-on-soaring-demand-for-wegovy-ozempic.html
