Novo Nordisk, the Danish pharmaceutical giant, reported better-than-expected net profit in its fourth quarter, driven by soaring demand for its obesity drug Wegovy. The company’s net profit rose 29% annually to $3.98 billion, beating analysts’ expectations of $26.09 billion.
Wegovy sales surged 107% year-over-year to $2.76 billion, slightly missing estimates. However, the company expects to bring a new oral weight loss pill to the US market before rival Eli Lilly, citing its strong portfolio and broad customer needs.
Novo Nordisk’s overall sales grew 30% in the fourth quarter and 26% on the year at constant exchange rates, driven by demand from North America, Europe, and Africa. The company forecasts slower sales growth for 2025 of between 16-24% at constant exchange rates, reflecting “intensifying competition” in the market.
CEO Lars Fruergaard Jørgensen said Novo Nordisk aims to launch its oral treatment in the US within a few months, targeting a tablet-based format that could expand patient accessibility. The company is also conducting further studies on its CagriSema obesity drug, which showed disappointing average weight reduction in late-stage trials but has positive early-stage results.
Jørgensen dismissed concerns about CagriSema’s tolerability, saying the data suggests the treatment is “very safe and well tolerated.” Despite some market uncertainty, investors remain optimistic about Novo Nordisk’s obesity drug pipeline.
Source: https://www.cnbc.com/2025/02/05/novo-nordisk-nvo-earnings-q4-full-year-fy24.html