Novo Nordisk Surpasses Expectations with 22% Growth in Turnover and Increases Profit Guidance
The Danish pharmaceutical giant Novo Nordisk is experiencing rapid growth, reporting a 22 percent increase in turnover to 65.3 billion Danish kroner (approximately 8.76 billion euros) in January-March. This is up from 53.4 billion kroner in the same period the previous year, surpassing analyst expectations of 63.7 billion kroner for this quarter. The company’s growth is attributed to drugs developed for diabetes and obesity, such as Wegowy and Ozempic, with sales increasing by 25 percent from the comparison period.
Novo Nordisk saw a 34 percent rise in turnover in North America, which has been attributed to its innovative treatments for these conditions. In response to its strong performance, the company has increased its profit guidance for the year, now expecting turnover growth of 19-27 percent, up from the previous guidance of 18-26 percent. Operating profit growth is also expected to be higher at 22-30 percent, compared to the previous estimate of 21-29 percent.
The CEO of Novo Nordisk, Lars Fruergaard Jørgensen expressed satisfaction with the sales development and noted that more patients are benefiting from their innovative treatments and that recent acquisitions of production facilities will help serve a larger population. Novo Nordisk’s research department has seen positive results in trials for their drugs including semaglutide’s effects on the kidneys and expanded uses for Wegowy in preventing cardiovascular diseases in the United States. With these successes and developments, Novo Nordisk remains on track for continued growth and innovation in the pharmaceutical industry.
