Novo Nordisk reported third-quarter sales of 79.2 billion Danish kroner ($11.9 billion), a 4% increase year-on-year at constant exchange rates, surpassing FactSet estimates of 73.6 billion kroner. The adjusted operating profit (EBIT) reached 31.7 billion kroner, exceeding the expected 28.6 billion kroner.
The company has updated its outlook for adjusted revenue and operating profit growth to between negative 2% and 2% at constant exchange rates, an improvement from its previous forecast of negative 6% to flat. Sales of Wegovy, which launched earlier this year, amounted to 5.4 billion kroner, significantly higher than the anticipated 4.5 billion kroner.
Additionally, sales of the injectable Wegovy and diabetes treatment Ozempic were 20.4 billion kroner and 29.7 billion kroner, respectively, both above expectations. This performance is crucial as Novo seeks to regain its competitive edge against Eli Lilly, which has rapidly gained market share in the U.S. weight-loss drug sector.
Investors are particularly interested in the potential of next-generation weight-loss drugs to address obesity-related health issues