By Dominic Chopping
Novo Nordisk raised its full-year guidance as sales of its blockbuster obesity and weight-loss drugs continue to surge, particularly in the U.S.
The success of weight-loss drug Wegovy and diabetes treatment Ozempic has seen shares in the Danish pharmaceutical giant surge to make it Europe’s most valuable company. Both drugs share the same active ingredient–semaglutide–so although Ozempic was developed to treat diabetes, it is also being used for weight-loss.
In a statement on Friday ahead of the company’s third-quarter results due next month, the company said it now expects 2023 sales growth in local currencies of 32% to 38%, from 27% to 33% previously, while operating profit growth is seen at 40% to 46%, from 31% to 37% previously.
“The sales outlook for 2023 is updated, primarily reflecting higher full-year expectations for Ozempic volumes sold in the U.S. and gross-to-net sales adjustments for Ozempic and Wegovy in the U.S.” it said.
Third-quarter sales rose 38% on the year in local currencies, while operating profit was 47% above last year’s level, it added.
Write to Dominic Chopping at [email protected]
Read the full article here