Novo Nordisk Forecasts Record Profit Fueled by Obesity Drug
- Operating profit to increase as much as 19% this year
- Wegovy sales more than quadrupled last year, driven by US
Lars Fruergaard Jorgensen
Photographer: Christopher Goodney/BloombergThis article is for subscribers only.
Novo Nordisk A/S forecast earnings will rise this year to record levels, boosted by soaring demand for its Wegovy obesity drug.
The Danish drugmaker expects operating profit to rise by as much as 19% at constant exchange rates in 2023. Novo Nordisk is also doubling spending on plants and equipment for a second year to boost production as it expects periodic shortages of drugs in some markets. The stock rose as much as 3% to a record.