Novo Nordisk, the Danish drugmaker that’s now the second-largest firm in Europe by market capitalization, on Thursday reported a 46% rise in revenue and lifted its outlook for the 12 months.
The drugmaker mentioned its revenue rose to 19.43 billion kroner, as gross sales rose 32% to 54.3 billion kroner, pushed by the spectacular uptake of its diabetes and weight-loss medicine whose demand it’s struggling to satisfy.
“The growth is driven by increasing demand for our GLP-1-based diabetes and obesity treatments, and we are serving more patients than ever before,” mentioned CEO Lars Fruergaard Jørgensen.
Ozempic, which is the same product to Wegovy however focused for diabetes particularly, noticed gross sales development of 58% within the first half, whereas obesity-care merchandise surged 158%.
The firm boosted its steerage from May, now anticipating gross sales development at fixed currencies of between 27% and 33% for the 12 months, a rise of three proportion factors, and the same enhance to its working revenue development goal to a variety of 31% to 37%.
Novo Nordisk
NVO,
mentioned the improved outlook displays what it expects to be “continued periodic supply constraints and related drug shortage notifications across a number of products and geographies.” It’s nonetheless proscribing lower-dose strengths of Wegovy within the U.S. to safeguard continuity of care.
“The key market concern will be that today’s commentary on supply will limit the scope for further revenue upgrades,” mentioned Peter Verdult, an analyst at Citi.
Novo Nordisk’s Danish-listed shares
NOVO.B,
fell 2% however have gained 16% during the last 5 days.
Novo Nordisk shares surged earlier this week after it mentioned a research discovered its Wegovy weight-loss drug decreased the danger of cardiovascular occasions by 20%.
Source web site: www.marketwatch.com
