The Danish company that manufactures diabetes and obesity drugs continues its wild growth.
The Danish pharmaceutical giant Novo Nordiskin turnover increased by 22 percent in January–March to 65.3 billion Danish kroner (about 8.76 billion euros). In the comparison period from January to March of the previous year, it was 53.4 billion kroner, and the consensus of analyst forecasts collected by Bloomberg expected 63.7 billion kroner.
The operating profit was 31.8 billion, while it was 25.0 billion kroner a year earlier. The consensus forecast was SEK 29.0 billion. The operating profit margin was 48.7 percent.
The company’s growth was driven by drugs intended for the treatment of diabetes and obesity, the best known being Wegowy and Ozempic. Their sales increased by 25 percent compared to the comparison period. In North America, Novo Nordisk’s turnover rose by as much as 34 percent.
At the same time, the company slightly raised its profit guidance. The company expects its turnover to grow this year by 19–27 percent at constant exchange rates, while the previous guidance was 18–26 percent. It now estimates operating profit growth to be 22–30 percent and previously 21–29 percent.
The company’s CEO Lars Fruergaard Jørgensen commented in the results release that the company is satisfied with the sales development.
“More and more patients are benefiting from our innovative treatments, and our purchase agreement for three Catalent production facilities will help us to serve significantly more people suffering from diabetes or obesity in the future.”
In February, the company announced that it would buy three production facilities from the American company Catalent– from a pharmaceutical company in Belgium, Italy and the USA.
“Our research department pleases us with the positive results of semaglutide’s effects on the kidneys and the expansion of Wegowy’s uses to prevent cardiovascular diseases in the United States.”