Danish pharmaceutical giant Novo Nordisk reported better-than-expected net profit for the fourth quarter, driven by strong demand for its Wegovy obesity drug. However, the company forecasts a slight slowdown in sales growth for 2025.
Danish pharmaceutical giant Novo Nordisk reported stronger-than-expected net profit for the fourth quarter, fueled by soaring demand for its Wegovy obesity drug. Net profit for the quarter reached 28.23 billion Danish kroner, exceeding the anticipated 26.09 billion Danish kroner. The company saw a 107% year-on-year surge in Wegovy sales to 19.87 billion Danish kroner during the three months ending December, although this figure slightly missed analyst estimates.
Novo Nordisk's shares climbed on Wednesday after the company announced its better-than-anticipated net profit for the fourth quarter, driven by the robust demand for its Wegovy obesity drug. However, the company projected a modest slowdown in sales for 2025. Net profit at the Danish pharmaceutical behemoth climbed 29% annually to 28.23 billion Danish kroner ($3.98 billion) in the fourth quarter, surpassing the expected 26.09 billion Danish kroner. Full-year net profit also increased 21% to 100.99 billion Danish kroner, outperforming the 2024 estimate of 99.14 billion Danish kroner.Year-on-year sales of Wegovy reached 19.87 billion Danish kroner ($2.76 billion) in the three months ending December, slightly falling short of the 20.02 billion Danish kroner projected by analysts in a Factset poll on Tuesday. Overall sales for the company, which also manufactures diabetes and rare disease treatments, grew 30% in the fourth quarter and 26% year-on-year at constant exchange rates. This expansion was primarily attributed to demand from the North America and Europe, Middle East, and Africa regions. Novo Nordisk, however, forecasted slower sales growth for 2025, ranging from 16% to 24% at constant exchange rates, below the 18% to 26% projected for 2024. The company stated that this forecast reflected 'intensifying competition and continued pricing pressure within the Diabetes and Obesity care' market. Susannah Streeter, head of money and markets at Hargreaves Lansdown, indicated that the wide range in guidance suggested that Novo Nordisk's current market share might be waning. She added that there was still significant potential for obesity drugs due to their widely recognized health benefits. 'Further acceleration will depend on more expanded use cases being approved by health regulators,' she stated. Novo Nordisk has capitalized on the rising global demand for GLP-1 agonist obesity treatments. GLP-1s, which form the foundation of Novo's Wegovy and rival drugs, have gained popularity for their effectiveness in weight management. Investors are eagerly awaiting updates on the company's other obesity drug candidates, including its highly anticipated experimental CagriSema treatment. Late-stage trial results for CagriSema dealt a blow to expectations that it would become Novo's next-generation obesity drug. CagriSema combines semaglutide — the active ingredient in Wegovy — with amylin analog Cagrilintide. A recent announcement regarding positive trial results for Novo's once-weekly Amycretin obesity drug, which also utilizes the amylin pancreas hormone, led to a surge in the company's stock last month. Novo Nordisk stated on Wednesday that it would conduct further research on CagriSema in 2025 with the aim of submitting a regulatory approval application in the first quarter of 2026, according to Reuters.
NOVO NORDISK WEGOVY OBESITY PHARMACEUTICAL SALES PROFIT COMPETITION
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US to Negotiate Prices for Novo Nordisk's Ozempic and WegovyThe US government plans to negotiate lower prices for Novo Nordisk's popular weight loss and diabetes drugs, Ozempic and Wegovy, as part of a broader effort to reduce drug costs for Medicare. This move comes as the company faces other challenges, including disappointing clinical trial results and investigations into potential side effects.
Read more »
Novo Nordisk Surpasses Expectations with Wegovy Sales, CagriSema Trial Results UnderwhelmDanish pharmaceutical giant Novo Nordisk reports strong fourth-quarter earnings driven by soaring demand for its obesity drug Wegovy. While Wegovy sales exceeded expectations, late-stage trial results for experimental obesity drug CagriSema fell short, raising questions about its future potential.
Read more »
Novo Nordisk posts net profit beat on Wegovy sales jump, sees growth slowdown this yearDanish pharmaceutical behemoth Novo Nordisk reported better-than-expected net profit in the fourth quarter, amid soaring demand for its Wegovy obesity drugs.
Read more »
Novo Nordisk Beats Profit Expectations Fueled by Wegovy Demand, but Forecasts Slower GrowthDanish pharmaceutical giant Novo Nordisk reported better-than-expected net profit for the fourth quarter, driven by strong demand for its Wegovy obesity drug. While sales of Wegovy slightly missed estimates, the company's overall sales increased by 30% in the fourth quarter. Novo Nordisk also anticipates a slowdown in sales growth for 2025, citing intensifying competition and pricing pressure in the diabetes and obesity care market.
Read more »
GQ Bowl 2025: Bode Aujla's Spring 2025 Collection Takes Center Stage in New OrleansGQ will partner with American designer Emily Adams Bode Aujla to present the inaugural GQ Bowl fashion show on February 7th at Hotel Peter & Paul in New Orleans. The event will showcase Bode Aujla's Spring 2025 Bode Rec. collection, inspired by her father's football past and the vibrant festival culture of New Orleans. The show will be livestreamed on GQ.com and feature a VIP party and all-access coverage.
Read more »
Edmunds' hybrid SUV test: 2025 Hyundai Tucson Hybrid vs 2025 Toyota RAV4 HybridIf you’re in the market for a hybrid SUV, don’t miss out on this comparison.
Read more »