Novo raises full-year outlook as Wegovy pill sales impress
Danish weight-loss drug maker raises full-year outlook as Wegovy sales exceed estimates
Quick Look
- Novo Nordisk reported third-quarter sales of 79.2 billion Danish kroner ($11.9 billion), up 4% year-on-year and ahead of estimates, as Wegovy sales blew past projections.
- The company raised its full-year outlook to adjusted revenue and operating profit growth of between negative 2% and 2% at constant exchange rates, up from negative 6% to flat previously.
AI-generated summary
Why It Matters
Novo Nordisk, the Danish weight-loss drug maker, is seeking to regain momentum after a tumultuous year in which it fell behind rival Eli Lilly. The company previously hiked its full-year sales and operating profit forecasts in August.
Novo posted quarterly earnings ahead of expectations early Wednesday as sales of its Wegovy pill blew past estimates.
The Danish weight-loss drug maker is looking to regain momentum following a tumultuous year in which it fell behind rival Eli Lilly.
The company updated its outlook to now see adjusted revenue and operating profit growth of between negative 2% and 2% at constant exchange rates. It previously saw full-year sales and operating profits, which it hiked in August, at negative 6% to flat for both metrics.
Sales in the third quarter came in at 79.2 billion Danish kroner ($11.9 billion), up 4% year-on-year and ahead of FactSet estimates of 73.6 billion kroner. Adjusted operating profit (EBIT) was 31.7 billion kroner, compared with the expected 28.6 billion kroner.
Open Questions
- What specific factors drove Wegovy sales to blow past estimates?
- How does Novo Nordisk's performance compare directly with Eli Lilly's latest results?
- What is the company's strategy to sustain momentum into next year?
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