Novo Nordisk's (NVO) U.S.-listed shares rose Wednesday morning as it reported better third-quarter profits than expected, though sales of its drugs including popular weight-loss treatments Ozempic and Wegovy grew less than expected.
Novo Nordisk reported forecast-beating quarterly sales of its popular Wegovy weight-loss drug on Wednesday, sending its shares up nearly 9%.
Novo Nordisk on Wednesday nudged higher its outlook for the year as the drugmaker registered another quarter of strong sales of its weight-loss drugs.
Novo Nordisk said the side effects in trials so far for its experimental obesity drug CagriSema were similar to its GLP-1 drugs already on the market, and reiterated its expectation the new injection will deliver 25% weight loss.
Novo Nordisk is lifting curbs on prescriptions of its weight-loss drug Wegovy in the United States and is increasing supply in that market, its CEO said on Wednesday.
Novo Nordisk is aware of 100 hospitalizations and 10 deaths resulting from people taking compounded copies of its popular weight-loss and diabetes drugs, the drugmaker's finance chief said on Wednesday.
Novo Nordisk (NYSE:NVO) reported better-than-expected third-quarter sales of its weight-loss drug Wegovy, reaching $2.49 billion, exceeding analyst expectations of $2.29 billion and increasing 48% from the previous quarter. The strong performance is seen as a positive sign amid competition from Eli Lilly's obesity drug, Zepbound.
The pharmaceutical giant narrowed its full-year guidance after its blockbuster Wegovy weight-loss drug beat sales expectations in the third quarter.
Novo Nordisk quarterly profit meets expectations as Wegovy maker narrows full-year guidance
Weight-loss and diabetes drugmaker Novo Nordisk on Wednesday posted third-quarter operating profit in line with expectations and narrowed its full-year sales and profit guidance range.
Investors want assurance the new GLP-1 weight-loss medicines can live up to their blockbuster expectations.
Novo Nordisk AS NVO will report third-quarter earnings on Wednesday. Wall Street expects 88 cents in EPS and $10.49 billion in revenues when the company reports after market hours.