Novo Nordisk raises its full-year outlook, Wegovy oral medication sales exceed expectations
Ai Focus
Novo Nordisk announced quarterly results earlier on Wednesday that exceeded expectations, with sales of Wegovy oral medications far exceeding forecasts. The company has raised its adjusted revenue and operating profit growth forecast to a decrease of 2% to growth of 2% when calculated using a fixed exchange rate, from a previous forecast of a decrease of 6% to flat. Revenue in the third quarter was 79.2 billion Danish kroner, higher than market expectations, and the adjusted operating profit was 31.7 billion Danish kroner, also above forecasts.
Novo Nordisk announced quarterly results earlier on Wednesday that exceeded expectations, as sales of its Wegovy oral medications far surpassed forecasts.
This Danish weight loss drug manufacturer is attempting to regain its growth momentum after a turbulent year. Over the past year, the company has fallen behind its competitor Eli Lilly in the competition.
The company has updated its annual outlook, expecting adjusted revenue and operating profit to grow by a range of -2% to 2% when calculated using a fixed exchange rate. Previously, the company projected that both annual sales and operating profit would decline by 6% to remain flat; this forecast was upwardly revised in August.
Third-quarter sales amounted to 79.2 billion Danish kroner (11.9 billion US dollars), a year-on-year increase of 4%, exceeding FactSet's forecast of 73.6 billion Danish kroner. Adjusted operating profit ( EBIT ) was 31.7 billion Danish kroner, while market expectations were 28.6 billion Danish kroner.
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