May 30, 2024


Boxes of Ozempic and Wegovy made by Novo Nordisk are seen at a pharmacy

Novo Nordisk’s total sales rose year over year in its first quarter, from to 53.4 billion Danish krone ($7.7 billion) to 65.3 billion Danish krone ($9.4 billion)
Image: Hollie Adams (Reuters)

Novo Nordisk raised today both its full year sales and operational profit guidance for the year after reporting booming sales of its blockbuster diabetes and anti-obesity medication, Ozempic and Wegovy in the first quarter of 2024.

“We are pleased with the sales growth in the first three months of 2024, driven by increased demand for our GLP-1-based diabetes and obesity treatments,” Novo Nordisk CEO Lars Fruergaard Jørgensen said in a release.

Sales of the Danish pharma giant’s diabetes and obesity drugs grew 25% year over year in the first quarter of 2024. These sales led to the company raising its outlook for the year.

The company raised is sales outlook to between 19% and 27%, up from a previous projection of between 18% and 26%. It also raised operational profit from to between 22% and 30%, from between 21% and 29%.

Novo Nordisk’s first quarter, by the digits

28%: How much Novo Nordisk’s net income rose in the three months ending March 31, to 25.4 billion Danish krone ($3.6 billion), from 19.8 billion Danish krone ($2.8 billion) in the same period last year.

22%: How much the company’s total sales rose year over year in its first quarter, from to 53.4 billion Danish krone ($7.7 billion) to 65.3 billion Danish krone ($9.4 billion)

$0.81: Novo Nordisk’s earnings per share, beating analysts’ estimates of $0.75, according to FactSet.

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