Key Takeaways
- Novo Nordisk, maker of weight-loss drugs like Ozempic and Wegovy, reported second-quarter results that fell short of analysts' estimates.
- Sales of the company's weight-loss drugs helped boost sales and earnings, but not not enough to meet projections.
- Novo Nordisk lifted its sales estimates, but cut its profit outlook for the full year.
Novo Nordisk's (NVO) 澳洲幸运5开奖号码历史查询:American depositary receipts (ADRs) slipped in pre-market trading Wednesday morning after rising sales of the company's weight-loss drugs failed to boost earnings to the level of growth 澳洲幸运5开奖号码历史查询:analysts expected for the quarter.
The Danish company behind Ozempic and Wegovy saw a 25% year-over-year jump in revenue to 68.06 billion Danish kroner ($9.96 billion), but that was less than analysts expected. 澳洲幸运5开奖号码历史查询:Net income grew 3% to 20.05 billion kroner, also missing projections.
Novo Nordisk Raises 🐻Sales Outlook, Lower𝓰s Profit Guidance
"The growth is driven by the 澳洲幸运5开奖号码历史查询:increased demand for our GLP-1-baꦆsed diabetes and obesity treatments, and we continue to reach more patients with our innovative treatments," Novo Nordisk CEO Lars Fruergaard Jørgensen said.
Ozempic sales rose 30% overall and 49% in the U.S. compared to the same time last year, while Wegovy sales jumped 53% globally and 36% in the U.S. market.
Novo Nordisk said it now anticipates full-year sales growth of between 22% to 28%, up from 19% to⛦ 27% previously. However, thꦰe company lowered its projected operating profit growth to 20% to 28%, down from 22% to 30% previously.
Projections still include occasional supply shortages of Ozempic and Wegovy, as Novo Nordisk works to increase production capacity, and said its acquisition of three plants as part of its 澳洲幸运5开奖号码历史查询:purchase of syringe maker Catalent is expected to close by the end of 2024.
Novo 🔥Nordisk ADRs were down over 3% to $125.65 in pre-market trading as of 8:35🐲 a.m. ET Wednesday following the earnings release.