Novo Nordisk Wegovy manufactured by Novo Nordisk packaging is seen on this illustration picture taken in a pharmacy in Krakow, Poland on April 8, 2024. (Picture by Jakub Porzycki/NurPhoto through Getty Pictures)
Jakub Porzycki | Nurphoto | Getty Pictures
Novo Nordisk on Wednesday posted weaker-than-expected web revenue within the second quarter and trimmed its working revenue outlook.
The pharmaceutical large stated its web revenue got here in at 20.05 billion Danish kroner ($2.93 billion) within the three months to the tip of June. A LSEG mixture forecast had projected the determine would are available in at 20.9 billion Danish kroner.
EBIT — earnings earlier than curiosity and tax — got here in at 25.93 billion Danish kroner within the second quarter, which was additionally beneath the LSEG forecast of 26.86 billion Danish kroner.
Novo Nordisk additionally trimmed its working revenue outlook for full-year 2024, saying progress was now anticipated to come back in between 20% and 28%, moderately than the beforehand anticipated 22% to 30% vary.
Within the first quarter of 2024, the Wegovy maker had posted a web revenue improve of 28% to 25.4 billion Danish kroner 12 months on 12 months, barely bumping up its forecasts for gross sales and working revenue progress.
Gross sales progress expectations have been raised as soon as extra on Wednesday, with the corporate now issuing a steerage of twenty-two% to twenty-eight% at fixed alternate charges for full-year 2024. The gross sales progress outlook for the interval had been penciled in at 19% to 27% beforehand.
Gross sales of widespread weight reduction drug Wegovy jumped 55% within the second quarter of 2024, in comparison with the identical interval in 2023, coming in at 11.66 billion kroner.
Novo Nordisk is dealing with rising competitors within the weight reduction house, each from smaller corporations and from pharmaceutical giants equivalent to Roche, which final month shared promising early-stage trial knowledge from its personal weight problems drug candidate.
Novo Nordisk’s Wegovy has additionally had promising information in latest months. The drug was accredited in China within the second quarter, opening it on the market on this planet’s second largest economic system. Elsewhere, the U.Ok.’s and European Union’s medical regulators stated it was backing Wegovy as a option to cut back dangers of great coronary heart occasions amongst chubby and overweight adults.
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