Novo Nordisk's Weight-loss Drug Wegovy Shines in Surpassing Sales Forecast

Novo Nordisk reported better-than-expected third-quarter sales for its weight-loss drug Wegovy, calming investor concerns about demand. Though the company plans to expand production, sales growth was hampered by pricing pressures and weaker diabetes drug sales. Wegovy competes in a booming obesity drug market alongside Eli Lilly's Zepbound.

Novo Nordisk has announced impressive third-quarter sales for Wegovy, its weight-loss drug, exceeding analyst forecasts and alleviating investor uncertainties over waning demand.

The Danish pharmaceutical giant, engaged in a fierce competition with Eli Lilly in a rapidly expanding $150 billion obesity drug market, reported a significant 48% increase in Wegovy sales compared to the previous quarter.

Despite this achievement, Novo Nordisk faced challenges with weaker sales of its diabetes drug Ozempic and pricing pressures in the U.S. market. However, the company remains optimistic, lifting prescription restrictions and promising continued production expansion.

(With inputs from agencies.)