Novo Nordisk Surges Ahead: Wegovy Sales Exceed Expectations

Novo Nordisk reported a surprising surge in Wegovy weight-loss drug sales, surpassing forecasts and maintaining its edge in the obesity drug market. Despite missing out on overall sales expectations, the company raised its sales and profit outlooks for 2024 amid growing competition, primarily from U.S. rival Eli Lilly.

Leading pharmaceutical company Novo Nordisk has announced stronger-than-expected sales figures for its acclaimed weight-loss drug, Wegovy. The drug recorded sales of 17.3 billion Danish crowns in the third quarter, significantly surpassing the 15.9 billion anticipated by analysts.

This success has settled investor concerns over Novo Nordisk’s competition with U.S.-based Eli Lilly. Despite a previous underperformance in the second quarter, the company's shares rose by 5% in pre-market trading. However, total group sales lagged behind expectations at 71.3 billion crowns, below the predicted 72.3 billion.

Novo Nordisk continues to focus on its innovative GLP-1-based obesity and diabetes treatments, with CEO Lars Fruergaard Jorgensen confirming strong demand. The company has revised its 2024 sales growth projections upwards, underlining its commitment to expanding drug production and advancing its pipeline of next-generation obesity medications.

(With inputs from agencies.)