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Novo Nordisk Reports Strong Q1 Results and Raises Full-Year Outlook on Weight-Loss Drug Demand





Date Published:
Author: CML News

Lede

Novo Nordisk has increased its full-year sales and operating profit outlook at constant exchange rates, driven by strong sales growth of weight-loss drug Wegovvy in the first quarter.

 

Summary

  • Novo Nordisk has raised its forecast for full-year sales and operating profit at constant exchange rates.
  • In Q1, the company's operating profit increased by 28% on sales growth of 25% at constant exchange rates.
  • The increase in operating profit and sales outlook is mainly attributed to the prescription trends for weight-loss drug Wegovvy.
  • Novo Nordisk now expects operating profit growth between 28% and 34% on sales growth between 24% and 30%, compared to its earlier view of 13% to 19% growth in both operating profit and sales for the year.
  • Credit Suisse upgraded the stock earlier, citing Ozempic growth acceleration and Wegovy re-launch as contributing factors to the positive outlook.

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