Novo Boosts Wegovy Shipments as Lilly Rivalry Pressures Prices
- Shares decline as price pressure hold back Wegovy sales
- Supply constraints are key challenge amid Lilly competition
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Novo Nordisk A/S is shipping more introductory doses of its blockbuster weight-loss drug Wegovy in the US as it grapples with supply constraints and competition from Eli Lilly & Co.
Wegovy sales more than doubled to 9.38 billion kroner ($1.35 billion) in the first quarter, but the number fell short of analysts’ estimates due to pricing pressure. In a sign of investors’ focus on the obesity medicine, the stock declined even though quarterly profit surged and the company raised its forecast.