The weight-loss drugmaker's Wegovy and Ozempic are among the most closely watched new medications in recent history, but face serious competition from Eli Lilly's Zepbound and Mounjaro.
Novo Nordisk (NYSE:NVO) posted a better-than-expected net profit of 28.23 billion Danish kroner ($3.98 billion) in the fourth quarter, beating analyst forecasts. The company's blockbuster Wegovy obesity drug saw sales soar 107% year-on-year to 19.87 billion Danish kroner ($2.76 billion), though this was slightly below expectations.
Novo Nordisk said on Wednesday it plan to file its experimental next-generation obesity drug CagriSema for regulatory approval during the first quarter of next year, slightly later than its previous expectation to file towards end-2025.
Novo Nordisk emissions grew 23% in 2024, the company said on Wednesday, and will keep rising through the end of the decade as it boosts production of blockbuster obesity drug Wegovy.
Novo Nordisk posts net profit beat as Wegovy sales jump 107% in fourth quarter
Weight-loss and diabetes drugmaker Novo Nordisk on Wednesday posted fourth-quarter operating profit above expectations as it forecast sales to grow at a slower pace in 2025 than last year.
Novo Nordisk A/S NVO will report its fourth-quarter earnings on Wednesday. Wall Street expects 86 cents in EPS and $11.40 billion in revenues as the company reports before market hours.
Novo Nordisk is under pressure from investors for more information about its next-generation obesity drug candidate CagriSema amid a lack of clarity over trial results that hammered its shares in December.
NVO's fourth-quarter revenues are expected to have been driven by its sales of diabetes and obesity care products, especially Wegovy, Ozempic and Rybelsus.
The Novo Nordisk Foundation does not plan to step in to prop up a global health sector reeling from a freeze on U.S.-funded foreign aid, and will continue to focus on its core non-communicable disease agenda, an official told Reuters.
Drugmakers have poured small fortunes into the development of weight loss medicines in the past few years in attempts to lead this lucrative and fast-growing market. However, Novo Nordisk (NVO -1.04%), a pioneer in the field, remains one of the leaders.
Novo Nordisk said on Thursday it has not yet posted details about a new trial of its experimental next-generation obesity drug CagriSema, which it announced it would start after late-stage trial data in December disappointed the market.