On Wednesday, Novo Nordisk A/S NVO reported third-quarter 2024 gross sales of 71.311 billion Danish kroner (round $10.3 billion), lacking the consensus of 71.89 billion Danish kroner.
The worldwide sales elevated 21% 12 months over 12 months (up 23% at fixed forex), pushed by elevated gross sales throughout the portfolio.
GLP-1 diabetes gross sales elevated by 15% at CER to 34.94 billion Danish kroner, and Weight problems care gross sales elevated by 55% at CER to 18.80 billion Danish kroner.
Additionally Learn: Wegovy Producer Inks Multi-Million Deal For Month-to-month Weight problems Drug
Insulin gross sales elevated by 10% at CER to 12.51 billion Danish kroner, and uncommon illness gross sales elevated by 17% at CER to 4.57 billion Danish kroner.
The corporate reported GAAP EPS of 6.12 Danish kroner, beating the consensus of 6.02 Danish kroner.
Wegovy gross sales reached 17.30 billion Danish kroner, up 81% and Ozempic gross sales elevated 26% at fixed forex to 29.80 billion Danish kroner.
Lars Fruergaard Jørgensen, president and CEO, stated, “The gross sales progress is pushed by growing demand for our GLP-1-based diabetes and weight problems therapies, and we’re serving extra sufferers than ever earlier than.”
Working revenue elevated to 33.8 billion Danish kroner, with margin increasing from 45.8% to 47.4%.
“Novo Nordisk is the market chief with 53.9% measured by complete month-to-month prescriptions and 50.0% measured by new-to-brand prescriptions,” the corporate stated.
Steerage: Novo Nordisk expects 2024 gross sales progress of 23%-27% on a relentless trade price foundation in contrast with earlier estimates of twenty-two%-28%.
The corporate tightened its working revenue progress steering to 21%-27%, in comparison with the beforehand anticipated 20%-28%.
“Following higher-than-expected quantity progress lately, together with GLP-1-based merchandise equivalent to Ozempic and Wegovy, mixed with the expectation of continued quantity progress and capability limitations at some manufacturing websites, the outlook additionally displays anticipated continued periodic provide constraints and associated drug scarcity notifications throughout a variety of merchandise and geographies,” it added.
Novo Nordisk stated it’s investing in inner and exterior capability to extend provide within the brief and long run.
Worth Motion: NVO inventory is down 2.90% at $106.94 on the final verify on Wednesday.
Learn Subsequent:
Picture by Tobias Arhelger through Shutterstock
Market Information and Knowledge dropped at you by Benzinga APIs
© 2024 Benzinga.com. Benzinga doesn’t present funding recommendation. All rights reserved.
