- Novo Nordisk raised its full-year revenue and operating profit outlook due to rising demand for its blockbuster weight-loss drug Wegovy and diabetes drug Ozempic.
- The revised forecast only confirms the hectic pace of these weekly injections.
- Novo Nordisk is scheduled to report its third-quarter results on November 2nd.
An Ozempic injection pen is seen on a kitchen table in Riga, Latvia, on August 6, 2023.
Jaap Arriens | Photo only | Getty Images
Novo Nordisk on Friday raised its full-year revenue and operating profit forecast as demand for its blockbuster weight-loss drug Wegovy and diabetes drug Ozempic soars.
The revised forecast only confirms the enthusiasm for these weekly injections that patients are seeking because they can help them lose significant weight over time. Ozempic and Wegovy have made Novo Nordisk the most valuable company in Europe.
According to a press release, the Danish drugmaker now expects sales growth in local currencies of 32% to 38% in 2023, compared to a previous forecast of 27% to 33%.
Novo Nordisk also expects operating profit growth of 40% to 46%, from 31% to 37% previously.
The new sales outlook for this year primarily reflects higher expectations for Ozempic sales in the U.S. and “gross-to-net sales adjustments for Ozempic and Wegovy in the U.S.,” the release said.
Novo Nordisk is scheduled to report its third-quarter results on November 2nd.
The company’s U.S.-listed shares rose about 1% to hit a new 52-week high on Friday.